Svensson v. iO73 Investments CA2/6
Tristan Strauss is the Chief Executive Officer, Secretary, and a member of the Board of Directors of iO73 Investments, Inc. (iO73), one of several companies comprising the Headwaters Group (the Group). The Group is engaged in the business of cannabis cultivation and distribution. Strauss and iO73 appeal from a judgment directing the issuance of a writ of mandate. The writ compels them to allow respondent Jonas Svensson to inspect and copy specified documents from the books and records of the “Group and the entities within it.” Respondent is a member of iO73’s Board of Directors and, according to the trial court, owns 26.5 percent of its outstanding shares. He is the former Executive Chairman of iO73.
As authority for the issuance of the writ, respondent relied on Corporations Code sections 1601 and 1602. Section 1601 permits a shareholder to inspect the books and records of the corporation and its subsidiaries. (Id., subds. (a)(1), (a)(3).) Section 1602 permits a director to insp
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