Elizabeth Fenton of Ballard Spahr. Courtesy photo Del. High Court Further Clarifies Standard for Confidentiality of Books and Records Produced Under DGCL Section 220
In the Hauppauge Digital case, the court affirmed the Court of Chancery's discretion to reject the parties' proposed confidentiality restrictions, and held that the decision regarding confidentiality restrictions is "a context-driven balancing exercise, the result of which will not be disturbed on appeal unless clearly unreasonable or capricious."
November 22, 2023 at 09:00 AM
5 minute read
Contributors
The ability of a stockholder to obtain books and records of a Delaware corporation through Section 220 of the Delaware General Corporation Law (DGCL) is frequently litigated in the Delaware Court of Chancery. Often, the parties to such litigation agree to confidentiality restrictions regarding such document productions. A recent Delaware Supreme Court case, Hauppauge Digital v. Rivest, 2023 Del. LEXIS 211 (Del. July 10, 2023), provides important guidance about such confidentiality agreements.
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