November 12, 2014
In the action, plaintiffs claimed a common-law right to expel defendant Winston Chiu, represented by Schlam Stone & Dolan partner Jeffrey Eilender and associate Samuel Butt, from his position as a member of an LLC. In March, 2010, the Second Department upheld a trial court ruling denying that plaintiffs had such a right at common law. Commentators are describing the Second Department’s ruling as representing the end of "the era of freewheeling judicial remedies" in LLC breakup cases.
Coverage of the case can be found here: