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CARAPICO v. PHILADELPHIA STOCK EXCHANGE

Civil Action No. 16764.

791 A.2d 787 (2000)

Joseph D. CARAPICO, Plaintiff, v. PHILADELPHIA STOCK EXCHANGE, INC., a Delaware Corporation, Defendant.

Court of Chancery of Delaware, New Castle County.

Decided: September 27, 2000.

Attorney(s) appearing for the Case

Charles Slanina, Esquire, Tybout, Redfearn & Pell, Wilmington, Delaware; Francis Recchuiti, Esquire, Vangrossi and Recchuiti, Norristown, Pennsylvania, Attorneys for Plaintiff.

Jon E. Abramczyk, Esquire, Morris, Nichols, Arsht & Tunnell, Wilmington, Delaware, Attorneys for Defendant.

OPINION

LAMB, Vice Chancellor.

I. INTRODUCTION

Joseph Carapico, an owner of two seats on the Philadelphia Stock Exchange ("Exchange" or "PHLX"), brought this action under 8 Del. C. § 220 after the Exchange, a Delaware nonstock membership corporation, refused Carapico's October 20, 1998 demand for inspection of its books and records.1 Plaintiff's § 220 request stems from events surrounding inquiries...

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