Last August, I published this post about the Fourth District Court of Appeal's decision allowing reverse veil piercing in the case of a Delaware limited liability company even though the court had refused to allow it in the case of a corporation. ...
Recently, I happened across a summary of the "key features" of a corporation on the California Franchise Tax Board's website. Recognizing that it is always a challenge to summarize accurately complex legal matters, I do beg to differ with some of...
Alter Ego, Bylaws, chapter 5, Corporate Governance, franchise tax board, Nevada Corporations, Section 2105, Section 506
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After a three week trial that included extensive expert testimony, a Los Angeles jury returned a $417 million verdict against Johnson & Johnson ($68 million non-economic and $340 million punitive damages) and its subsidiary Johnson &...
Alter Ego, Corporate Governance, Echeverria, Johnson & Johnson, Maren Nelson, subsidiary, talcum powder
Courts historically have applied the alter ego doctrine to "pierce the corporate veil" so that a shareholder may be held liable for the debts or conduct of the corporation. California has extended the possibility of alter ego liability to members...
Alter Ego, Baldwin, Curci Investments, Kaswa, Limited Liability Companies, Limited Liability Company, llc, Postal Instant Press, reverse veil piercing, Section 17703.04, Section 17705.03, veil piercing
In general, the debts, obligations, or other liabilities of a California limited liability company do not become the debts, obligations, or other liabilities of a member or manager solely by reason of the member acting as a member or manager acting...
Alter Ego, default, Judge Otis D. Wright, liability, Limited Liability Companies, Limited Liability Company, llc, Section 17703.04, Show Ready
California's version of the Revised Uniform Limited Liability Company Act expressly subjects members to potential alter ego liability:
A member of a limited liability company shall be subject to liability under the common law governing alter ego...
17703.04, Alter Ego, Jennifer A. Dorsey, Limited Liability Companies, Limited Liability Company, llc, Nevada Corporations, Pharmaplast S.A.E. v. Zeus Medical, piercing the corporate veil, webb v. shull
Keith Paul Bishop
