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
Over the past few years, the “individual mutual termination agreement” ("rupture conventionnelle i...
Read More >
It is a reasonable extrapolation – and we are nothing at Cooley if not wildly reasonable – that mo...
Read More >
Employers, beware. It has been reported that Immigration and Customs Enforcement has recently begun ...
Read More >
Amateur philosophers, bar flies, and eulogists, among others, are known to wistfully observe that no...
Read More >
On August 6, 2019, New Jersey enacted its Wage Theft Law, transforming the state’s wage and hour la...
Read More >
There are many notable east coast-west coast rivalries. In sports (Celtics versus Lakers basketball)...
Read More >