Wolf v. CDS DEVCO

Opinion

HUFFMAN, Acting P. J.

Plaintiff and appellant Walter E. Wolf, who formerly served as a corporate director of San Elijo Ranch, Inc. (SERI), brought this action against SERI and related parties, to seek enforcement of the “absolute” rights of a director to inspect SERI’s corporate records. (Corp. Code, 1 § 1602.) Wolf is also a 20 percent shareholder of CDS Devco (Devco; a Cal. real estate development corporation), which is the parent corporation of SERI. Wolf does not own shares in SERI itself.

Although Wolf was not reelected to the SERI board of directors, in his first amended petition…