Small Business Reading Room

Wednesday, December 22, 2004

Delaware Courts

Many people choose to incorporate in Delaware because of its Court system. But, have you ever wondered what types of cases are tried in the various Courts? Well, now you can find out. The Delaware Courts make their opinions available online to the general public.

Throughout the various Courts you can find cases about negligence, breach of contract and more. One big case currently being tried in Delaware involves The Walt Disney Company. Some might be interested to know that this isn’t the only case involving The Walt Disney Company to be tried in Delaware recently.

In the summer of 2004, Roy E. Disney v. The Walt Disney Company was heard in the Court of Chancery. Roy E. Disney is a shareholder of the company who wanted to make certain books and records of The Walt Disney Company public. Roy E. Disney wanted to make these items public “for the purpose of investigating suspicious or mismanagement or waste of corporate assets.” The Walt Disney Company, however, deemed the items to be confidential. The Court found in favor of The Walt Disney Company, stating that shareholders “cannot use confidential information received for the proper purpose of investigating and seeking to remediate wrongdoing for the purpose of being a self-appointed publisher of the Company’s proprietary information.”

The website provides the actual documents filed in the court. It can be interesting reading, if you don't mind reading through the legalese.

posted by Anonymous at 9:37 AM - permalink 0 comments

Small Business Reading Room

Delaware Courts

0 Comments: