10Feb
Second Department Limits Plaintiff to Appraisal Remedy Under New York LLC Law After a Freeze-out Merger
In Farro v. Schochet, the Second Department recently held that §1002 of the NY LLC Law restricted a dissenting member’s remedy to an appraisal for the fair value of his interest in the business after a freeze-out merger. Thus, the Court reduced the legal remedies for a minority LLC member that lacked protections in the operating agreement against the merger....
By:
Patterson Belknap Webb & Tyler LLP
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