X
04Aug

Minority Members’ Contractual Blocking Rights Can Result in the Imposition of Fiduciary Duties

Gray Reed | | Return|
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
Source Url: https://www.jdsupra.com/legalnews/minority-members-contractual-blocking-27452/

Related

[Video] Innovation in Compliance- The Mindset of Culture with Arnie Malham

When you think about personal injury lawyers, is the first thing that comes to mind “what great adv...

Read More >

Labor Board Showing Valentine’s Love to . . . A Labor Union?

I think by now regular readers of this column know I embrace my inner geek.  I read decisions when t...

Read More >

HR Quick Takes: FMLA Certification

Q: How long does an employee have to return FMLA certification? A: The employee has 15 calendar day...

Read More >

Financial Daily Dose 6.8.2020 | Top Story: Bureau of Labor Statistics Admits Massive Undercount of May Jobless Figures

So about those May jobs numbers . . . . The return of 2.5 million jobs in May was a welcome and larg...

Read More >

[Video] Daily Compliance News: July 17, 2019, the don’t give a damn about my bad reputation edition

In today’s edition of Daily Compliance News: What happens when you have an innovation and no one t...

Read More >

Puerto Rico Enacts Law Providing Unpaid Leave and Reasonable Accommodation for Victims of Abuse

On August 1, 2019, just a day prior to his resignation as Governor of Puerto Rico, Ricardo Rosselló ...

Read More >