In Zhang v. Zoox, C.A. No. 2020-1036-KSJM (Del. Ch. Jan. 31, 2022), the Delaware Court of Chancery ruled that, when stockholders use an appraisal proceeding under 8 Del. C. Section 262 (Section 262) solely to investigate follow-on claims, the scope of discovery to which appraisal petitioners are entitled should be limited to what they would receive in the books and records context under 8 Del. C. Section 220 (Section 220). The court’s ruling in Zoox has implications and raises questions both in and outside the context of appraisal proceedings.

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