STATE EX REL. PILLSBURY V. HONEYWELL, INC.
191 N.W. 2d 406 (1971)
NATURE OF THE CASE: This case stands for the proposition that a shareholder may not inspect corporate records for 'improper purposes'. The Court defines a proper purpose as an economic interest only. This was an appeal from a denial of a writ of mandamus to compel Honeywell (D) to turn over its shareholder ledgers and corporate records so Pillsbury (P) could inspect them.
FACTS: Pillsbury (P) bought 100 shares of Honeywell (D) stock, only one share of which was in his name. The sole purpose of this investment was to obtain the shareholder list from D and use it in P's Vietnam War protest activities. P wanted to build support for his anti-arms campaign. P requested the names and addresses of all of D's shareholders and d refused. He asks the Court to hold this as a 'proper purpose'.
ISSUE:
RULE OF LAW:
HOLDING AND
DECISION:
LEGAL ANALYSIS:
Get
free access to the entire content for Mac, PC or Online
for 2-3 days and free samples
of all kinds of products.
https://bsmsphd.com
No comments:
Post a Comment