“Trust, But Verify”: The Massachusetts Supreme Judicial Court addresses shareholder inspection rights

The Supreme Judicial Court clarified the burden a shareholder must meet to obtain corporate records under chapter 156D, section 16.02(b) last week in Chitwood v. Vertex Pharmaceuticals, Inc. Using a Russian proverb, an analog to a well-known Biblical verse, and a biting observation about the underlying litigation, the Court added some color to the somewhat mundane topic of statutory shareholder inspection rights.

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