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HA 5 to SS 1 for SB 21

Delaware House bill in Session 153.

Status: failed. Latest action: March 25, 2025.

HA 5 to SS 1 for SB 21.

Bill ID DE-153-HA-5-TO-SS-1-FOR-SB-21
Session 153
Status failed
House failed 2025-03-25
Business / Commerce
Summary

This Amendment to SS 1 for Senate Bill 21 clarifies that a corporation may require, as a condition to producing books and records to a stockholder under a Section 220 demand, that the stockholder agree that any information included in the corporation’s books and records produced to that stockholder is deemed incorporated by reference in any complaint filed by or at the direction of the stockholder in relation to the subject matter referenced in the demand. This Amendment to SS 1 for Senate Bill 21 also changes the standard in a proceeding brought by a stockholder under subsection (c) of Section 220 of Title 8 to compel the inspection of additional records to (1) reasonably identifying the documents the stockholder needs and making a showing such records exist (instead of a compelling need); and (2) demonstrating by a preponderance of the evidence, or more likely than not, rather than the higher standard of clear and convincing evidence that such specific records are necessary and essential to the proceeding. This is intended to codify the standard for production of books and records set forth in the Supreme Court’s decision in KT4 Partners LLC v. Palantir Techs. Inc., 203 A.3d 738 (Del. 2019).

Sponsor
Wilson-Anton
Official Source Back to Bills
Actions Timeline
Date Event Detail
2025-03-25 Introduced Bill introduced
2025-03-25 Status failed
2025-03-25 Latest Action Defeated By House. Votes: 8 YES 31 NO 2 ABSENT
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Minnesota • 2026 Regular • unknown