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Home / Opinion Digests / Corporate / Corporate LLC – Tort/Negligence – Breach of Fiduciary Duty – Majority Member – Operating Agreement Definition – Jury Instructions (access required)

Corporate LLC – Tort/Negligence – Breach of Fiduciary Duty – Majority Member – Operating Agreement Definition – Jury Instructions (access required)

Even though defendant Wilson owned a 56.3 percent interest in the defendant-limited liability company, since the LLC’s operating agreement defined a “majority” as 67 percent or greater of the LLC’s issued voting shares, the trial court should not have instructed the jury that Wilson held a majority interest in the LLC and therefore owed plaintiffs ...

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