DE Bar Practice Questions - Delaware Bar Examination Exam

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A shareholder of a Delaware corporation seeks to inspect the corporation's books and records. Under DGCL § 220, what must the shareholder demonstrate to obtain a court order compelling inspection?

That the shareholder owns at least 5% of the outstanding shares That the shareholder has a proper purpose reasonably related to the shareholder's interest as a stockholder That the corporation has committed fraud or other wrongdoing That the shareholder has held shares for at least one year prior to making the demand

Correct Answer:

That the shareholder has a proper purpose reasonably related to the shareholder's interest as a stockholder

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