John R. Dyer owns approximately 6 percent of the stock in the Indium Corporation. All the remaining

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John R. Dyer owns approximately 6 percent of the stock in the Indium Corporation. All the remaining outstanding shares are owned by the corporation’s chief executive officer and chair of its board of directors. Suspecting that the corporation was improperly retaining income otherwise payable to him, Dyer sought to inspect its books and records. He was provided the minutes of its shareholders and board of directors meetings, but otherwise rebuffed in his requests for records. Instead, the chief executive officer offered to purchase Dyer’s shares. Dyer sued, demanding inspection of the records that his accountant deemed necessary in order to determine the value of his shares. Should Dyer be given a right to inspect the corporate records? Explain.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Law for Business

ISBN: 978-1259722325

13th edition

Authors: A. James Barnes, Terry M. Dworkin, Eric L. Richards

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