Daily Archives: Thursday, March 5, 2020

Posted: March 5, 2020

New York Court Had Jurisdiction to Decide Derivative Claims Despite Operating Agreement’s Delaware Choice of Law Clause

On March 3, 2020, the First Department issued a decision in Favourite Ltd. v. Cico, 2020 NY Slip Op. 01463, holding that New York courts have jurisdiction to decide derivative actions regarding entities whose operating agreements are governed by Delaware law, explaining: Contrary to defendants’ contention, New York courts have subject matter jurisdiction over the... Read more »