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Mark D. Harris and Margaret A. Dale Mark D. Harris and Margaret A. Dale

In December, the Delaware Supreme Court issued an opinion in Amerisourcebergen Corp. v. Lebanon Cnty. Emps.’ Ret. Fund, C.A. No. 2019-0527-JTL, 2020 WL 7266362 (Del. Dec. 10, 2020), which continues the trend of granting broad inspection rights to stockholders seeking materials pursuant to §220 of the Delaware General Corporation Law. The decision likely will affect companies responding to broad stockholder books-and-records demands for some time to come.

The case stemmed from a §220 demand (the demand) served on the AmerisourceBergen Corporation by the Lebanon County Employees Retirement Fund and Teamsters Local 443 Health Services & Insurance Plan (the plaintiffs). The demand requested inspection of certain books-and-records related to a number of government investigations and other lawsuits facing the company relating to its alleged failures to maintain effective controls and reporting systems in its distribution of opioids.

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