(L-R) Cliff C. Gardner and Andrew Kinsey of Skadden, Arps, Slate, Meagher and Flom. Courtesy photos. Chancery Cautions Against Overzealous Redactions in Books and Records Productions
In Ontario Provincial Council of Carpenters' Pension Trust Fund v. Walton, Vice Chancellor Laster mostly denied motions to dismiss claims against officers and directors of Walmart for allegedly causing Walmart to fail to comply with the Controlled Substances Act and a settlement between it and the DEA related to Walmart's handling of opioid prescriptions.
June 28, 2023 at 09:00 AM
7 minute read
Recently, Vice Chancellor J. Travis Laster of the Delaware Court of Chancery issued an instructive opinion offering lessons to Delaware companies responding to stockholder demands to inspect company books and records. In Ontario Provincial Council of Carpenters' Pension Trust Fund v. Walton, the Vice Chancellor mostly denied motions to dismiss claims against officers and directors of Walmart for allegedly causing Walmart to fail to comply with the Controlled Substances Act and a settlement between it and the DEA related to Walmart's handling of opioid prescriptions. In so doing, he analyzed numerous documents that had been produced pre-suit by Walmart to the plaintiff in response to the plaintiff's demand to inspect Walmart's books and records. Those documents were attached to parties' motion to dismiss briefs. Many of the documents produced by Walmart were redacted heavily which the court explained "laid the foundation for the plaintiffs to seek damaging inferences."
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