After realizing that a 2016 reorganization stripped them of their voting and other governance rights in a highly profitable limited liability company, the plaintiffs brought direct and derivative ...

Although the members of a limited liability may file a derivative action, the right of action belongs to the LLC and not to the members themselves. This fundamental principle had real consequences for ...

Maybe, but navigating the jungles of double derivative actions and the business judgment rule will be tough — and not just in the U.S. By Jonathan Handel Sony Pictures Entertainment Studios - H 2014 ...

Since New York case law generally holds that a trustee is the proper party to a suit in conflict situations, the aggrieved trust beneficiary is seemingly without options. Practitioners, however, ...