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Gokongwei Jr. Vs SEC - Case Digest
Gokongwei Jr. Vs SEC - Case Digest
, petitioner,
vs.
Facts:
Petitioner, Gokongwei jr., as stockholder of respondent San Miguel Corporation, filed with the
Securities and Exchange Commission (SEC) a petition for "declaration of nullity of amended by-
laws, cancellation of certificate of filing of amended by- laws, injunction and damages with
prayer for a preliminary injunction" against the majority of the members of the Board of Directors
and San Miguel Corporation as an unwilling petitioner.
In connection with the same case, petitioner filed with the Securities and Exchange Commission
an "Urgent Motion for Production and Inspection of Documents", alleging that the Secretary of
respondent corporation refused to allow him to inspect its records despite request made by
petitioner for production of certain documents enumerated in the request, and that respondent
corporation had been attempting to suppress information from its stockholders despite a
negative reply by the SEC to its query regarding their authority to do so.
The "Urgent Motion for Production and Inspection of Documents" was opposed by respondents,
alleging, among others that the motion has no legal basis; that the demand is not based on
good faith; that the motion is premature since the materiality or relevance of the evidence
sought cannot be determined until the issues are joined, that it fails to show good cause and
constitutes continued harrasment, and that some of the information sought are not part of the
records of the corporation and, therefore, privileged.