04Aug
Minority Members’ Contractual Blocking Rights Can Result in the Imposition of Fiduciary Duties
In Skye Mineral Investors LLC v. DXS Capital (U.S.) Limited, et al., the Delaware Court of Chancery (the “Court”) denied defendants’ motion to dismiss, finding that plaintiffs had sufficiently pled a breach by the members holding a minority equity interest (the “Minority Members”) in Skye Mineral Partners, LLC (“SMP”) and the manager who the Minority Members appointed to SMP’s board of managers (the “Minority Manager”) of their fiduciary duty of loyalty to SMP and its members. ...
By:
Gray Reed
Related
MAE. In any M&A transaction, a significant deterioration in the target’s business between signing a...
Read More >
Liens represent one of the primary mechanisms by which contractors, subcontractors, and other downst...
Read More >
In times of uncertainty and disruption, setting expectations for performance with business partners ...
Read More >
In a 3-1 representation case, the National Labor Relations Board recently continued its roll-back on...
Read More >
On January 1, 2020, Illinois' new Artificial Intelligence Video Interview Act (AIVIA) went into effe...
Read More >
Maintenance Company Fired or Failed to Rehire Older Workers, Federal Agency Charges - RALEIGH, N.C...
Read More >