(L-RAaron R. Sims and Matthew D. Venuti of Potter Anderson & Corroon. Courtesy photos 'Zoox' and the Intersection of Stock Appraisal and Section 220 Demands in Delaware
The court's ruling in Zoox has implications and raises questions both in and outside the context of appraisal proceedings.
February 16, 2022 at 09:00 AM
6 minute read
Commentary
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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