The Delaware Court of Chancery, in Joseph Stanco v. Rallye Motors Holding, LLC, C.A. No. 2019-0751-SG, memo. op. (Del. Ch. Dec. 23, 2019), found that an LLC member did not waive his right to bring a statutory books and records action in Delaware under an LLC Agreement providing that “all disputes relating to this Agreement shall be venued in [New York courts].”
NEW: K&L Gates discusses the decision in Chancery Court Decline to Move Books and Records Dispute to New York Despite New York Venue Clause in Agreement.
Morris James discusses the decision in Chancery Rejects Challenge to Delaware as Proper Venue in Books and Records Action.