The Court dismissed plaintiffs’ action under Section 220 of the General Corporation Law of Delaware for books and records of the defendant company, finding that the plaintiff failed to demonstrate a credible basis from which the Court could infer mismanagement, waste or wrongdoing as required to state a proper demand for books and records. The Court specifically noted as to one of plaintiffs’ claims, that plaintiff must point to something other than a precipitous drop in stock price to be granted Section 220 inspection rights.
