Conservative Caucus v. Chevron Corp.
Delaware Court of Chancery
525 A.2d 569 (1987)
Conservative Caucus (plaintiff), holding 30 shares of Chevron (defendant), demanded access to Chevron's shareholder list under DGCL § 220 to warn other shareholders that Chevron's operations in Angola risked losses from potential war, U.S. sanctions, and political instability, and to solicit support for a resolution urging the board to make demands of the Angolan government; Chevron refused, arguing the purpose was improperly political, that the resolution was not a proper subject for shareholder action, and that shareholders deserved freedom from harassment.
Whether communicating with other shareholders about a specific matter of corporate concern constitutes a proper purpose for requesting access to a corporation's shareholder list.