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POMERANCE v. McGRATH

858, 650129/11.

143 A.D.3d 443 (2016)

2016 NY Slip Op 06462

38 N.Y.S.3d 164

BRENDA POMERANCE, Respondent, v. BRIAN SCOTT McGRATH et al., Appellants.

Appellate Division of the Supreme Court of New York, First Department.

Decided October 4, 2016.

"Under New York law, shareholders have both statutory and common-law rights to inspect a corporation's books and records so long as the shareholders seek the inspection in good faith and for a valid purpose" (Retirement Plan for Gen. Empls. of the City of N. Miami Beach v McGraw-Hill Cos., Inc., 120 A.D.3d 1052, 1055 [1st Dept 2014]). Statutory inspection rights complement, but do not eliminate, common-law inspection rights, which...

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