Plaintiffs, minority members of a limited liability company, allege that the defendant-managing member has taken excess distributions from the LLC while withholding distributions due to plaintiffs. Discovery remains pending, information from plaintiffs’ expert was conveyed by way of an unsworn letter, plaintiffs’ affidavits admit they lack information about the exact dates and amounts of distributions, and defendant’s affidavit contradicts plaintiffs’ affidavits. Plaintiffs have not shown that they are entitled to summary judgment on their claim for a declaratory judgment.
The court denies plaintiffs’ motion for partial summary judgment.
Wright v. LoRusso (Lawyers Weekly No. 020-034-23, 5 pp.) (Adam Conrad, J.) 2023 NCBC 34. Matthew Van Horn for plaintiffs; Leonard Kornberg for defendant; Sara Higgins for nominal defendant. North Carolina Business Court