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18 Mar 2024, 4:32 am
In June 2022, Manhattan Commercial Division Justice Andrew Borrok granted Tao’s pre-answer motion to dismiss the complaint (read here), holding that under Delaware LLC Act Section 18-101[9] (“A member or manager of a limited liability company or an assignee of a limited liability company interest is bound by the limited liability company agreement whether or not the member or manager or assignee executes the limited liability company… [read post]
23 Nov 2009, 4:20 pm
The debtor will list his LLC interest at its current fair market value. [read post]
28 Jun 2021, 3:10 am
” Najjar sued West for breach of the implied covenant of good faith and fair dealing and for breach of fiduciary duty. [read post]
13 Jan 2015, 8:19 am
Yellow Enterprise Systems, LLC, the Sixth Circuit recently upheld summary judgment in favor of an ambulance company in a collective action filed by three EMTs, finding that the plaintiffs’ meal and rest breaks were not compensable under the Fair Labor Standards Act (“FLSA”) and Kentucky law. [read post]
14 Nov 2022, 3:40 pm
Customer Connexx, LLC et al first appeared on Renne Public Law Group. [read post]
22 Aug 2013, 8:35 am
Note that the Delaware Limited Liability Company Act makes it clear that fiduciary duties may be expanded, restricted or even eliminated by provisions in the limited liability company agreement, provided that the implied contractual covenant of good faith and fair dealing cannot be eliminated. [read post]
10 Feb 2017, 6:00 am
Organization of the Limited Liability Company El Coronado Holdings, LLC (ECH), was formed in 1997 with four initial members: Husband, wife, Valer Trust, and Josiah Trust. [read post]
12 Mar 2019, 1:11 pm
Interests in limited liability companies (LLC) are often sold as unregistered securities and lack the same regulatory oversight as more traditional investment products. [read post]
21 Sep 2009, 11:59 am
The company, Biovail Pharmaceuticals, LLC., pleaded guilty to charges of paying thousands of physicians to engage in a program called “PLACE” (Proving Long Acting Through Experience) and to prescribe or recommend the drug Cardizem, L.A. [read post]
5 Oct 2018, 2:03 pm
First the Company itself has the option to scoop up that offer and buy the LLC interest out from under this potential third party buyer within a certain number of days. [read post]
16 Mar 2012, 10:39 am
WELLS FARGO ADVISORS, LLC. v. [read post]
5 Jan 2018, 9:04 am
The court held that a provision of an LLC operating agreement governing the sale of membership interests superseded the default rule of New York Limited Liability Company (“LLC Law”) § 509, entitling a member to “the fair value of his or her membership interest” upon withdrawal from the LLC. [read post]
19 Dec 2016, 3:21 am
What makes an LLC member a member? [read post]
18 Aug 2010, 6:14 am
Or are they non-operating companies? [read post]
13 May 2019, 3:42 am
Over the years, we’ve written a lot about limited partnership, corporation, and LLC “fair value” appraisal proceedings. [read post]
27 Sep 2012, 8:50 am
No Right to Buy-Out Upon Withdrawal – The New Jersey Revised Uniform LLC Act removes the provision in the current LLC Act that provides that a resigning owner is entitled to receive the “fair value” of his or her interest upon resignation (essentially, a “put”). [read post]
7 Apr 2022, 7:45 am
Assistant Attorney General Todd Kim said that the Justice Department would enforce wildlife laws to maintain stable eagle populations and promote fair competition between companies. [read post]
24 Jan 2019, 5:41 am
The transaction was facilitated by Signet LLC’s wholly-owned sell-side advisory firm, Signet Capital Advisors. eTERA has been in Signet LLC’s portfolio since 2004, when it was created as a start-up company offering document management services to law firms and corporations. [read post]
15 May 2017, 3:32 am
” Based on his finding that the daughter received valid consideration for the assignment of her LLC interest, Justice Singh concluded: [The daughter’s] claims, accruing in 2010, that defendants breached the LLC’s operating agreement, breached their fiduciary duty, breached their duty of good faith and fair dealing, and were unjustly enriched to her detriment, must be dismissed because she had no interest in the LLC in 2010. [read post]
15 May 2017, 3:32 am
” Based on his finding that the daughter received valid consideration for the assignment of her LLC interest, Justice Singh concluded: [The daughter’s] claims, accruing in 2010, that defendants breached the LLC’s operating agreement, breached their fiduciary duty, breached their duty of good faith and fair dealing, and were unjustly enriched to her detriment, must be dismissed because she had no interest in the LLC in 2010. [read post]
