Richards Layton & Finger

Richards Layton's Chancery Court Win Affirmed

June 7, 2012

In Central Laborers Pension Fund v. News Corp., No. 682, 2011 (Del. May 29, 2012), the Delaware Supreme Court affirmed the Court of Chancery’s dismissal of the plaintiff’s complaint, which sought to enforce a demand for inspection of books and records under Section 220 of the Delaware General Corporation Law. The Supreme Court’s decision underscores that the Court will require strict compliance with the statute, and where a Section 220 demand does not comply with the statute’s “form and manner” requirements, a corporation will have no obligation to respond to it. Greg Varallo, with Catherine Dearlove and Blake Rohrbacher, represented defendant News Corporation.