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| Name | Conservative Caucus v. Chevron Corp. Case Brief Summary | Law Case Explained |
| Video Uploader | Video From Quimbee |
| Upload Date | This Video Uploaded At 15-02-2022 14:00:34 |
| Video Discription | Get more case briefs explained with Quimbee. Quimbee has over 20,000 case briefs (and counting) keyed to over 223 casebooks ► https://www.quimbee.com/case-briefs-overview Conservative Caucus v. Chevron Corp. | 525 A.2d 569 (1987) When you buy stock, you are a part-owner of that corporation and entitled to certain rights and privileges. For example, a shareholder is entitled to inspect the corporation’s books and records, including, but not limited to, financial statements, shareholder lists, and meeting minutes. To exercise that right, a shareholder must submit a written demand and assert a proper purpose. In Conservative Caucus versus Chevron Corporation, the Delaware Court of Chancery considered what qualifies as a proper purpose. Conservative Caucus Research Analysts and Education Foundation, Incorporated, owned stock in Chevron Corporation. Pursuant to Delaware General Corporation Law Section Two Twenty, Conservative Caucus demanded access to Chevron’s shareholder list. In the demand, Conservative Caucus stated that its primary purpose was to inform other shareholders about the severe economic risks of Chevron’s business activities in Angola. Specifically, Conservative Caucus claimed that if Chevron continued operations in Angola, it would suffer financial losses and other difficulties due to the instability of the Angolan government. In its secondary purpose, Conservative Caucus wanted to voice its support for the Danielson Resolution, which urged Chevron’s board of directors to make demands of the Angolan government. Chevron refused to turn over its shareholder list, arguing that Conservative Caucus hadn’t stated a proper purpose, because its interests were solely political. In addition, Chevron argued that the Danielson Resolution wasn’t a proper subject for shareholder action because the sole power to establish policies lies with the board of directors, and the other shareholders were entitled to privacy. As a result, Conservative Caucus brought an action in the Delaware Court of Chancery to compel Chevron to turn over the shareholder list. Want more details on this case? Get the rule of law, issues, holding and reasonings, and more case facts here: https://www.quimbee.com/cases/conservative-caucus-v-chevron-corp The Quimbee App features over 20,000 case briefs keyed to over 223 casebooks. Try it free for 7 days! ► https://www.quimbee.com/case-briefs-overview Have Questions about this Case? Submit your questions and get answers from a real attorney here: https://www.quimbee.com/cases/conservative-caucus-v-chevron-corp Did we just become best friends? Stay connected to Quimbee here: Subscribe to our YouTube Channel ► https://www.youtube.com/subscription_center?add_user=QuimbeeDotCom Quimbee Case Brief App ► https://www.quimbee.com/case-briefs-overview Facebook ► https://www.facebook.com/quimbeedotcom/ Twitter ► https://twitter.com/quimbeedotcom #casebriefs #lawcases #casesummaries |
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