Publication Date: 2024-12-31
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory | Transportation
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Raymond J. DiCamillo, Kevin M. Gallagher, Andrew L. Milam, Kaitlyn R. Cannan, Richards, Layton & Finger, P.A., Wilmington, DE; Laura K. O’Boyle, Nathan C. Strauss, Zachary R. Edelman, Gibson, Dunn & Crutcher LLP, New York, NY; Colin B. Davis, Gibson, Dunn & Crutcher LLP, Irvine, CA for plaintiff.
for defendant: Jennifer R. Hoover, Andrew D. Kinsey, Benesch, Friedlander, Coplan & Aronoff, LLP, Wilmington, DE; Andrew G. Fiorella, Alyssa A. Moscarino, Benesch, Friedlander, Coplan & Aronoff, LLP, Cleveland, OH; Tyler J. Leavengood, Charles Wood, Potter Anderson & Corroon LLP, Wilmington, DE for defendants.
Case Number: 2024-0883-LWW
LLC operating agreement's provision giving investor unilateral right to replace CEO for poor EBITDA did not conflict with other provisions regarding member consents, meaning investor validly replaced plaintiff as CEO.