Shareholder access to investigation documents upheld, reinforcing transparency and minority investor rights in regulatory proceedings.

Minority shareholders challenged alleged securities-law violations and sought access to investigation and settlement-related documents; the court found that shareholders could not be treated as outsiders and were entitled to the requested materials despite confidentiality claims, while not definitively ruling on the legality of the settlement process, stressing transparency in corporate governance and implications for application of confidentiality provisions in regulatory proceedings.

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