New York has recognized the right of limited liability company members and managers to bring derivative claims – that is, claims belonging to the LLC – against other members or managers. But, the derivative plaintiff needs to beware of...
A family business dispute is not shareholder oppression when the majority shareholders refuse to buy out minority members not receiving dividends
  Most corporations include broad indemnification provisions in their by-laws that are intended to protect directors and officers from the costs of lawsuits claiming wrongdoing. Those corporate provisions, however, as well as the statutory provisions that permit indemnification have an...
Disputes between the owners of a business often involve derivative claims; specifically that one of the parties has breached his or her duty to the business or done something to damage the business.  In the closely held business the...
Businesses often create additional new businesses, whether as joint ventures or subsidiaries. The flexibility and favorable tax treatment given to the limited liability company have made it fairly common that an LLC has other business entities as its owners....

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