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SECURITY FIRST v. U.S. DIE CASTING & DEVELOPMENT

No. 87, 1996.

687 A.2d 563 (1997)

SECURITY FIRST CORPORATION, a Delaware Corporation, Defendant Below, Appellant, v. U.S. DIE CASTING AND DEVELOPMENT COMPANY, an Ohio Corporation, Plaintiff Below, Appellee.

Supreme Court of Delaware.

Decided: January 14, 1997.

Attorney(s) appearing for the Case

Peter J. Walsh, Jr. (argued), Kevin R. Shannon of Potter, Anderson & Corroon, Wilmington (James S. Hogg of Ulmer & Berne, Cleveland, Ohio, of counsel), for Appellant.

Thomas Herlihy III of Herlihy, Harker & Kavanaugh, Wilmington, and Byron S. Krantz and Jonathon M. Yarger (argued), of Kohrman, Jackson & Krantz, Cleveland, Ohio, for Appellee.

Before VEASEY, C.J., HOLLAND, HARTNETT and BERGER, JJ., and RIDGELY, President Judge, constituting the Court en Banc.

VEASEY, Chief Justice.

In this appeal we hold that a stockholder may demonstrate a proper demand for the production of corporate books and records upon a showing, by the preponderance of the evidence, that there exists a credible basis to find probable corporate wrongdoing. The stockholder need not actually prove the wrongdoing itself by a preponderance of the evidence. Therefore, the trial judge's determination of that credible...

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