08Sep
Illinois First District Rejects Veil Piercing Theory for Fiduciary Duties, reaffirms that only Managers, not Employees or Shareholders, have Fiduciary Duty to “manager-managed” LLC
Oliver v. Isenberg, 2019 IL App (1st) 181551-U, arose from a lawsuit among members of a once-prosperous entity known as the Combined Group, LLC (“Combined” or “the company”) over the hostile breakup of the company. The circuit court held after a bench trial that Mark Oliver, a shareholder and employee of Combined, had a fiduciary duty to the company as “manager” because he was also an officer and primary shareholder of the company’s managing member, the Combined Holding Group, Inc. (CHG)......
By:
Novack and Macey LLP
Related
Battery Manufacturer Rescinded Its Job Offer Based on Unfounded Fears of Safety, Federal Agency Char...
Read More >
I was a little irritated when a person from my community was appointed to an elected position becaus...
Read More >
On November 22, 2019, the U.S. Court of Appeals for the First Circuit in Sun Capital Partners III, L...
Read More >
The Americans with Disabilities Act (ADA) does not protect employees from discrimination based on po...
Read More >
Le secteur agricole canadien constitue un élément important de l’économie du pays. En effet, les re...
Read More >
Prior to 2014, NLRB case law gave an employer the right to control its property. The NLRB tempered t...
Read More >