Opinion ID: 2441952
Heading Depth: 1
Heading Rank: 6

Heading: Westland Demands Axcelis' Books and Records

Text: On December 9, 2008, Westland sent a demand letter to Axcelis under 8 Del. C. § 220, requesting seven categories of books and records of Axcelis and its subsidiaries. [5] The purpose of that demand, according to Westland, was to investigate: (a) the Board members' compliance with their fiduciary duties to the Company and its shareholders as it relates to the Board's management of SHI's acquisition proposals; [and] (b) the Board members' compliance with their fiduciary duties to the Company and its shareholders as it relates to the Board's refusal to accept the resignations of Directors Stephen R. Hardis, R. John Fletcher, and H. Brian Thompson. By letter dated December 12, 2008, Axcelis rejected Westland's demand, on the ground that it did not satisfy the standard set forth in Section 220 and Delaware's jurisprudence interpreting Section 220.