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
North Carolina recently amended its “anti-indemnity” statute, which generally applies to construct...
Read More >
Selling your company for a huge profit sounds enticing. What could be wrong with getting a huge up-f...
Read More >
On March 17, 2020 the Spanish Government approved Royal Decree-Law 8/2020 ("RDL") which contains a n...
Read More >
In Chief Counsel Memorandum 20200801F, released on February 21, 2020, the IRS established its positi...
Read More >
In a December 16, 2019 decision, the National Labor Relations Board (Board) held that employers’ st...
Read More >
Massive pharma news to start the day, with AbbVie announcing that it’s reached a deal to buy Allerg...
Read More >