Legal Opinion
Tzolis v. Wolff
New York Court of Appeals
Decided February 14, 2008PublishedCited by 54 opinions
1Opinion of the Court
OPINION OF THE COURT
Smith, J.
We hold that members of a limited liability company (LLC) may bring derivative suits on the LLC’s behalf, even though there are no provisions governing such suits in the Limited Liability Company Law.
Facts and Procedural History
Pennington Property Co. LLC was the owner of a Manhattan apartment building. Plaintiffs, who own 25% of the membership interests in the LLC, bring this action “individually and in the *103right and on behalf of’ the company. Plaintiffs claim that those in control of the LLC, and others acting in concert with them, arranged first to lease and…
2Cases cited11 opinions
- Auerbach v. BennettNew York Court of Appeals · 1979
- Brinckerhoff v. . BostwickNew York Court of Appeals · 1882
- Robinson v. SmithNew York Court of Chancery · 1831
- Continental Securities Co. v. . BelmontNew York Court of Appeals · 1912
- Riviera Congress Associates ex rel. Lewy v. YasskyNew York Court of Appeals · 1966
6 more not listed; retrieve them via the Exa API.
3Cited by54 opinions
- Montauk U.S.A., LLC v. 148 South Emerson Associates LLCCourt of Appeals for the Second Circuit · 2018
- Out of Box Promotions, LLC v. KoschitzkiAppellate Division of the Supreme Court of the State of New York · 2008
- In re the Dissolution of 1545 Ocean Avenue, LLCAppellate Division of the Supreme Court of the State of New York · 2010
- Pokoik v. PokoikAppellate Division of the Supreme Court of the State of New York · 2014
- Bartfield v. MurphyDistrict Court, S.D. New York · 2008
49 more not listed; retrieve them via the Exa API.