Pillsbury v. Honeywell, Inc.

Petitioner purchased 100 shares of Honeywell stock to gain a voice in company affairs. The petitioner was motivated by Honeywell's production of antipersonnel fragmentation bombs that were being used in Vietnam. His requests for a shareholder list was refused.

A stockholder is entitled to inspection for a proper purpose germane to his business interests. Inspections resulting in the production of shareholder lists are proper only if the shareholder has a proper purpose for such communication. In this case, the court held that petitioner's request was not related to business interests, but was rather an attempt to assert his political views on the corporation. There is an important policy note in this case: "Because the power to inspect may be the power to destroy, it is important that only those with a bona fide interest in the corporation enjoy that power."

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