October 16, 2026|Publications
“Companies now face a more defined but strategically complex books-and-records landscape where demands filed early can strengthen over time with new developments, making Section 220 responses critical merits litigation rather than routine compliance tasks.”
“For decades, Section 220 of the Delaware General Corporation Law (DGCL) was described as a summary proceeding vindicating a modest inspection right. Few practitioners would describe it that way now. The books-and-records demand has become the opening move of virtually every serious stockholder campaign: the discovery vehicle that Delaware courts told plaintiffs to use before filing derivative suits, and that plaintiffs learned to use with prosecutorial thoroughness.
In the past year and a half, the two institutions that control Section 220 rewrote it from opposite directions. The General Assembly narrowed what stockholders can get. The Supreme Court loosened when they can prove they deserve it. Companies that update only half their playbook will lose fights they should win.”
To view the full article as published by Delaware Business Court Insider, click here.*
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