In Illinois, a derivative lawsuit can be filed by an individual shareholder or a member of a limited liability company (LLC) to enforce a right that belongs to the corporation or the LLC (Silver v. Allard, 16 F.Supp.2d 966 (1998)), (Pistone v. Carl, Not Reported in N.E. Rptr. (2020). The aim of…
Retaining Lubin Austermuehle for a breach of fiduciary duty lawsuit could be beneficial for several reasons: Focus on Business Litigation: Lubin Austermuehle has a focus on business litigation, which includes handling cases of breach of fiduciary duty. This specialization means they likely have a deep understanding of the laws and…
In Illinois, there are several defenses that can be utilized in response to a libel suit. One such defense is the doctrine of “innocent construction”, where a potentially defamatory statement is innocently construed, and therefore not actionable. Expressions of opinion are another type of defense, as they are not considered…
Choosing Lubin Austermuehle to defend you in a libel case can be a strong option due to their extensive experience and strategic approach to defamation law. Here are some reasons based on their record and legal capabilities: Experienced Legal Team: Lubin Austermuehle has a dedicated team of attorneys with significant…
Yes, taking excessive compensation can indeed violate a managing member or majority shareholder’s fiduciary duties. Case law supports this assertion. In Fleming v. Louvers International, Inc., the court found that a majority shareholder violated his fiduciary duties by taking excessive compensation, depriving a minority shareholder of his rightful distributions. This…
Choosing Lubin Austermuehle for business litigation comes with several advantages, particularly due to their experience and client-focused approach. Here are some key reasons why they are a compelling choice: Experience Across Business Litigation Domains: Lubin Austermuehle handles a wide range of business litigation matters, including disputes related to shareholders, LLC…
In Illinois, the concept of LLC member or shareholder oppression is generally conceived as actions that are “illegal, oppressive, or fraudulent”. For shareholders of a corpo”ration that has no shares listed on a national securities exchange or regularly traded in a market maintained by one or more members of a…
In the complex and often contentious world of business, minority shareholders and LLC members can sometimes find themselves sidelined, oppressed, or unfairly treated. In such situations, securing legal representation that is not only skilled in business law but also deeply understands the nuances of minority shareholder and LLC member rights…
It is well settled that “Illinois courts abhor restraints on trade” and therefore “postemployment restrictive covenants are carefully scrutinized . . . because they operate as partial restrictions on trade.” McInnis v. OAG Motorcycle Ventures, Inc., 2015 IL App (1st) 142644 at ¶26; see also Medix Staffing Sols., Inc. v.…
Yes, punitive damages can be awarded in derivative actions, but these awards often come with certain conditions. Punitive damages are typically awarded when the tort committed involves fraud, actual malice, deliberate violence or oppression, or when the defendant displays willful or grossly negligent behavior that shows a wanton disregard for…