21st Century Diamond, LLC v. Allfield Trading, LLC

Plaintiff 21st Century Diamond, LLC (21st Century), a Delaware limited liability company, was organized to engage in the business of diamond wholesaling. 21st Century’s members are defendant and third-party plaintiff Allfield Trading, LLC (Allfield), which holds an 18% interest, and third-party defendant Exelco Group doing business as Exelco North America, Inc. (Exelco), which holds an 82% interest. Although Allfield is the minority member, its principals, defendants Joshua Allen and Robert Cornfield, were formerly designated 21st Century’s managers. After the relationship between Allfield…