Fleisher Development Corporation v. Home Owners Warranty Corporation Fleisher Development Corporation v. Home Owners Warranty Corporation

Opinion for the Court filed by Circuit Judge STARR.

STARR, Circuit Judge:

One of the basic incidents of corporate ownership is the right of shareholders, secured initially at common law and in more modern times regulated by statute, to inspect the books and records of the corporation whose stock they hold. This diversity case involves an inspection right claim, under Delaware law, in a less typical setting, namely a non-stock mutual corporation. Such corporations have members, not shareholders. The principles, happily, are the same, notwithstanding the less familiar corporate structure. The…