Shareholders of financial services provider McGraw-Hill can inspect portions of the corporation’s books and records to investigate alleged mismanagement of its credit rating agency subsidiary during the run-up to the financial crisis, the Appellate Division, First Department, held Thursday.
In Retirement Plan for General Employees of the City of North Miami Beach v. McGraw-Hill Companies, 650349/2013, a unanimous panel reversed a lower court’s dismissal of a petition brought under a special Commercial Division proceeding to force McGraw Hill to comply with a written demand for materials.
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