Corporate Records Must Be Accessible For Board MembersThe Internet Corporation for Assigned Names and Numbers (“ICANN”) has been receiving negative feedback from lawmakers, consumers and inside tension within ICANN from its directors. ICANN has faced criticism for holding open meetings and for not being able to substantiate its fiscal decisions. Karl Auerbach, a board member, petitioned the court to help him gaining access to more ICANN documents. A court has determined that a board member must be granted access to such documents. ICANN has faced other legal criticisms in the past for not holding corporate meetings and not being able to justify its corporate decisions.
The following questions have been addressed in this article:What is a director’s fiduciary duty?