Legal Opinion
Olson v. Halvorsen
Court of Chancery of Delaware
Decided October 22, 2008No. C.A. 1884-VCLPublishedCited by 5 opinions
1Opinion of the Court
OPINION AND ORDER
LAMB, Vice Chancellor.
This case arises from a dispute among the founders of a hedge fund regarding the appropriate amount owed to one of the founders upon his removal from the company. The LLC operating agreement that the removed founder relies upon in the contract claim of his lawsuit is unsigned. The unsigned operating agreement provides that upon leaving the company a founder is entitled to a multi-year earnout, in this case purportedly worth over $100 million. In contrast, relevant signed documents provide that a founder is only entitled to his capital account and…
2Cases cited16 opinions
- Ebersole v. LowengrubSupreme Court of Delaware · 1962
- Crabtree v. Elizabeth Arden Sales Corp.New York Court of Appeals · 1953
- Williams v. GeierSupreme Court of Delaware · 1996
- Tanzer v. International General Industries, Inc.Court of Chancery of Delaware · 1979
- Briefstein v. P. J. Rotondo Construction Co.Appellate Division of the Supreme Court of the State of New York · 1959
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3Cited by5 opinions
- Olson v. HalvorsenSupreme Court of Delaware · 2009
- CSH Theatres, LLC v. Nederlander of San Francisco AssociatesCourt of Chancery of Delaware · 2015
- CertiSign Holding, Inc. v. KulikovskyCourt of Chancery of Delaware · 2018
- Ferret v. CourtneyMassachusetts Superior Court · 2015
- White Winston Select Asset Funds, LLC v. Good Times Restaurants, Inc.District Court, D. Delaware · 2020