misappropriation

Misappropriated Watering Hole Becomes Money Judgment Sinkhole

By Franklin C. McRoberts on May 15, 2023

Posted in Accountants/Experts, Attorney's Fees, Derivative Actions, Surcharge

In this week’s New York Business Divorce, read about an unusually brazen case of misappropriation of corporate opportunity culminating in a hefty judgment against the perpetrators, including punitive damages and an accounting surcharge.
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Court Construes Member Expulsion Provision in LLC Agreement

By Peter Mahler on November 10, 2014

Posted in Delaware, Expulsion and Removal, LLCs, Operating Agreement, Uncategorized

There’s sure to be fireworks — or at least litigation — when one of two 50% members of an LLC attempts to terminate the other for wrongful conduct as vaguely defined in the LLC agreement, as illustrated in an appellate ruling last month in Harker v. Guyther, featured in this week’s New York Business Divorce.
Continue Reading Court Construes Member Expulsion Provision in LLC Agreement