Practice Area
Representation of LLC members, managers, and companies in derivative actions, distribution disputes, and claims of minority oppression.
Overview
The operating agreement was signed when everyone was optimistic. The dispute arrives later: distributions that stop, a managing member who stops answering, a minority owner who believes the majority is running the company for itself.
We have sat on both sides of the operating agreement. That is the advantage.
Brian M. Levine has represented every side of these disputes. He has brought derivative claims on behalf of a member against an LLC and its managing members for wrongfully withheld distributions, resolving the matter with a $115,000 payment from the defendants. He has also defended a development company and its managers against a derivative action by minority members alleging $8.5 million in damages for managerial misconduct, minority oppression, and breach of the operating agreement, in connection with a multi-unit residential building in Queens.
Because the firm also drafts operating agreements, management agreements, and membership interest sales, it understands the documents at the center of these disputes, and how to use them.
What we handle
Representative matters
Prior results do not guarantee a similar outcome.
All representative matters$115K
For: LLC member
Represented a member in a derivative action against an LLC and its managing members for breach of the operating agreement by wrongfully withholding distributions. The matter resolved with a $115,000 payment from the defendants.
$8.5M claim
For: LLC and its managers
Represented an LLC in connection with the development of a multi-unit residential building in Queens, and in the defense of a derivative action filed by minority members alleging $8.5 million in damages and asserting claims for managerial misconduct, minority oppression, and breach of the operating agreement.
The matters described on this site are illustrative and do not describe every matter the firm has handled. Each matter turns on its own facts, and the absence of a stated outcome should not be read as a comment on the result. Prior results do not guarantee a similar outcome.
Related practices
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