I a short order of affirmance issued last week, the Nevada Supreme Court affirmed a basic requirement of derivative litigation. J. McDonald Co. v. Tropical & Losee, LLC, 2022 WL 6833521 (Nev. Oct. 11, 2022). The case involved an attempt by J....
Nevada Supreme Court Affirms Contemporaneous Ownership Requirement In LLC Derivative Action
Posted on October 19, 2022
Federal Court Applies Demand Excused Test When Demand Was Allegedly Made
Posted on March 17, 2022
I must confess that I confess that I am nonplused by a recent ruling by U.S. District Court Judge James A. Teilborg in SinglePoint Direct Solar LLC v. Curiel, 2022 U.S. Dist. LEXIS 19880. The case involved, among other things, a derivative claim...
The Fiduciary Duties Of A Nevada LLC Manager May Be limited Indeed!
Posted on May 31, 2019
When the Nevada legislature enacted the state's limited-liability company act, it did not prescribe the fiduciary duties, if any, owed by managers. As I observed:
