Thursday, December 23, 2010

Private Investigator News: Delaware Supreme Court recognizes right to obtain identities of limited partners

"The Delaware Supreme Court has upheld a lower court ruling that ordered a limited partnership to provide a list of its limited partners to one of those limited partners. The limited partner who sought the list complied with the procedures in the partnership agreement. The limited partner wanted to use the list to contact other limited partners to investigate potential claims against the limited partnership's general partner. The general partner, in resisting the request, relied on a privacy policy in a private placement memorandum issued to prospective investors advising that the general partner does not disclose non-public personal information about investors in the limited partnership. The Delaware Supreme Court ruled that the non-disclosure restrictions in the private placement memorandum did not override the right expressly afforded to limited partners under the partnership agreement." Read more
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