LLC member alleges looting by other members – $500,000 Settlement

By Virginia Lawyers Weekly
Published: June 16, 2008

This case involved a dispute among three members of a commercial equipment rental LLC. In December 2006, two LLC members (defendants) made a demand of the third member (plaintiff) for his dissociation from the LLC, offering $120,000 in return for his one-third LLC interest. Before and after his rejection of their offer, plaintiff discovered that ...

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