Martin Floreani v. FloSports, Inc.

Summary

The Supreme Court of Delaware affirmed judgment for FloSports, holding that none of the stockholders’ three demands satisfied the procedural requirements for inspection under Section 220. The Third Demand was premature because the stockholders moved to amend the complaint before the five-business-day waiting period expired, and the Second Demand was not shown to have been verified under oath in its final form. The court therefore did not reach proper purpose, ownership, scope, or confidentiality issues.