Rainbow Navigation, Inc. v. Pan Ocean Navigation, Inc.

HOLLAND, Justice:

This appeal involves an action by Pan Ocean Navigation, Inc. (“Pan Ocean”) for an order permitting it to inspect the books and records of Rainbow Navigation, Inc. (“Rainbow”) pursuant to 8 Del.C. § 220. Any stockholder, “upon written demand under oath stating the purpose thereof,” has the right to inspect the corporation’s books and records. Id. § 220(b). However, as used in Section 220 “ ‘stockholder’ means a stockholder of record.” Id. § 220(a). Moreover, the stock ledger is “the only evidence as to who are the stockholders entitled to examine ... the books of the…