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  • Mehra v. Teller

    Publication Date: 2024-10-08
    Practice Area: Corporate Entities
    Industry: Investments and Investment Advisory
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: John L. Reed, Peter H. Kyle, Kelly L. Freund, Daniel P. Klusman, DLA Piper LLP (US), Wilmington, DE; Patrick J. Smith, Brian T. Burns, Michael K. Sala, Clark Smith Villazor LLP, New York, NY for plaintiffs.
    for defendant: Jon E. Abramczyk, D. McKinley Measley, Elizabeth A. Mullin Stoffer, Kirk C. Andersen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants.
    Case Number: 2019-0812-KSJM

    Court found that equal sharing provision in parties' LLC agreement had been triggered entitling plaintiff to equal distributions at the subsidiary level by transferring his economic rights to the subsidiary following the holding company's dissolution.

  • Mehra v. Teller

    Publication Date: 2023-03-14
    Practice Area: Corporate Entities
    Industry: Consumer Products
    Court: Court of Chancery
    Judge: Chancellor McCormick
    Attorneys: For plaintiff: John L. Reed, Peter H. Kyle, Kelly L. Freund, DLA Piper LLP, Wilmington, DE; Patrick J. Smith, Brian T. Burns, Smith Zillazor LLP, New York, NY for plaintiffs.
    for defendant: Jon E. Abramczyk, D. McKinley Measley, Alexandra Cumings, Elizabeth A. Mullin, Sebastian Van Oudenallen, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants.
    Case Number: 2019-0812-KSJM

    Although LLC agreement entitled member to continued economic distribution rights after Holdco distributed the shares it held in its subsidiary, the subsidiary was not an indispensable party where its manager and preferred members were already parties to the action and had authority to amend the subsidiary's LLC agreement.

  • Mehra v. Teller

    Publication Date: 2021-02-17
    Practice Area: Corporate Entities
    Industry: Consumer Products
    Court: Court of Chancery
    Judge: Vice Chancellor McCormick
    Attorneys: For plaintiff: John L. Reed, Peter H. Kyle, Kelly L. Freund, DLA Piper LLP (US), Wilmington, DE; Patrick J. Smith, Brian T. Burns, Nicholas J. Karasimas, Smith Villazor LLP, New York, NY for plaintiffs.
    for defendant: Jon E. Abramczyk, D. McKinley Measley, Alexandra M. Cumings, Elizabeth A. Mullin, Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE for defendants.
    Case Number: D69300

    Although one member of a limited liability company contrived circumstances leading to a deadlock, the facts established that the parties had an irreconcilable disagreement which warranted dissolution of the com-pany.