Hauppage Digital must hand over financial information to a shareholder that sued the company after it stopped providing SEC disclosures or holding annual meetings, the Delaware Chancery Court said.
Investor James Rivest brought a lawsuit in 2019 against the New York company, which makes a range of electronic products and hardware, seeking books and records to evaluate his shares.
The Delaware court said Rivest’s “need for information is significant” when it granted his request on Thursday. The opinion noted that the company was once registered with the Securities and Exchange Commission but “opted to ‘go dark’” in 2014.
“Since then, ...
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.