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Corporations – LLC Manager – Operating Agreement – Annual Report – Derivative Action – Tort/Negligence – Breach of Fiduciary Duty (access required)

Levin v. Jacobson (Lawyers Weekly No. 020-060-16, 12 pp.) (Louis Bledsoe III, J.) 2016 NCBC 64 Holding: Even though a limited liability company’s 2009 annual report filed with the state identified defendant Jacobson as the LLC’s manager, since plaintiffs bring this derivative suit on behalf of the LLC, they are bound by the LLC’s operating agreement, ...

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