Shareholders Secure Crucial Information in Delaware Court Ruling

Concerned Stockholders Prevail in Delaware Court, Obtain Stockholder List Necessary for Robust Proxy Contest

WILMINGTON, Del., March 25, 2023 (GLOBE NEWSWIRE) -- A Delaware Chancery Court has ruled in favor of concerned stockholders, granting their request for a stockholder list that is necessary for a robust proxy contest.

The court's decision comes after the concerned stockholders, led by [Name], filed a complaint seeking the list of stockholders as required by Delaware law. The company, [Company Name], had initially refused to provide the list, citing concerns about the legitimacy of the proxy contest.

However, the court ruled that the concerned stockholders had demonstrated a sufficient interest in the company and its affairs, and that the list was necessary to ensure a fair and informed proxy contest. The court's decision allows the concerned stockholders to proceed with their proxy contest and solicit support from other stockholders.

"We are pleased that the court has recognized the importance of transparency and accountability in corporate governance," said [Name], lead plaintiff. "We believe that this decision will help to ensure that all stockholders have the opportunity to make informed decisions about the future of the company."

The concerned stockholders have been critical of the company's leadership and decision-making processes, and have called for change. The company has maintained that its leadership is committed to the best interests of the company and its stockholders.

The court's decision is a significant victory for the concerned stockholders and a setback for the company. The proxy contest is expected to continue, with the concerned stockholders seeking to replace the company's current leadership with a new slate of candidates.

The case is [Case Name], C.A. No. [Case Number], Delaware Chancery Court.