Milbank LLP Litigation & Arbitration partners Sean M. Murphy, Jed M. Schwartz and associate Gary A. Crosby II recently authored an article titled "Recent Developments Regarding Books and Records Demands to Mutual Funds" for the Review of Securities & Commodities Regulation.
The article explores the increasing demands by shareholders of mutual funds to inspect their fund's books and records, which are demands that fund directors and management typically oppose. The authors discuss shareholders' inspection rights to fund records under the laws of Delaware and Massachusetts, and the cases decided under each.
The authors close with a comparison of inspection rights under the laws of the two states. With plaintiffs successfully using books and records demands to obtain some fund records, they conclude that these demands will inevitably lead to more guidance as to how the courts will construe these requests.
To read "Recent Developments Regarding Books and Records Demands to Mutual Funds," please click here.
