The Delaware Court of Chancery, in Verdantus Advisors, LLC, et al. v. Parker Infrastructure Partners, LLC, et al., C.A. No. 2020-0194-KSJM, order (Del. Ch. Oct. 8, 2020), dismisses former LLC member’s breach of fiduciary duty claim asserting that it was oppressed by the LLC’s failure to pay consulting fees former member was owed, noting that Delaware does not recognize a cause of action for stockholder oppression.
Francis Pileggi discusses the decision in No Cause of Action in Delaware for Conventional Stockholder Oppression.