Pederson v. Arctic Slope Regional Corp.

Summary

The Alaska Supreme Court held that a shareholder's statutory inspection right includes electronically maintained books and records of account beyond annual reports and proxy statements, including specified financial records and individualized executive compensation information. It upheld the narrower interpretation of minutes but held that a corporation may condition disclosure on a reasonably tailored confidentiality agreement only if its scope and restrictions are reasonable. Because the corporation's agreement was overbroad and unduly restrictive, the court reversed, vacated, and remanded.