Publication Date: 2024-04-29
Practice Area: Corporate Governance
Industry: Investments and Investment Advisory
Court: Court of Chancery
Judge: Vice Chancellor Will
Attorneys: For plaintiff: Brian C. Ralston, T. Brad Davey, Charles P. Wood, Abraham C. Schneider, Potter Anderson & Corroon LLP, Wilmington, DE; Douglas P. Baumstein, Ellen Shapiro, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., New York, NY for plaintiffs.
for defendant: Blake Rohrbacher, Mari Boyle, Morgan R. Harrison, Richards, Layton & Finger, P.A., Wilmington, DE; Anthony M. Candido, Clifford Chance US LLP, New York, NY for defendants.
Case Number: 2023-0948-LWW MEMORANDUM OPINION Date Submitted:
Plaintiff's removal as an employee and manager of LLCs was ineffective where the operating agreements established payment of the fair market value of plaintiff's revenue share as a condition precedent to removal.
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