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
In 2013, Michael Dell and Silver Lake Group LLC took Dell, Inc. private through a leveraged buyout. ...
Read More >
Due to recent and significantly increased spread of COVID-19, additional COVID-19 protocol guidance ...
Read More >
In what is perhaps an agency first, the Wage and Hour Division of the U.S. Department of Labor (DOL)...
Read More >
FTI Consulting (“FTI”) welcomes our clients and friends to our inaugural edition of The Activism V...
Read More >
Auto Parts Manufacturer Refused to Hire Employee Who Needed a Reasonable Accommodation, Federal Agen...
Read More >
Hammertime Security is a nationwide cybersecurity firm whose in-house counsel faces a slew of tricky...
Read More >