In a move aimed at increasing transparency, the Delaware Court of Chancery has made it tougher for parties seeking to retain certain information as confidential by limiting the categories of information that can be declared confidential and making such documents automatically available to the public if the party seeking secrecy does not meet certain requirements.
The new process was unveiled Monday through the adoption of Court of Chancery Rule 5.1, which is set to go into effect on January 1, 2013. Rule 5.1 replaces Rule 5(g), which was implemented in 1990 and previously governed the procedure for parties seeking to designate certain information as confidential.
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