It is pretty common to think that limited liability company members have similar rights as shareholders in a corporation.
But they don’t, (although in some respects the rights afforded to LLC members may be better). The Business Court made that pretty clear last week in Fiske v. Kieffer, 2016 NCBC 22.
The Defendant held a minority (40%) interest in an LLC. He asserted in a counterclaim that all the other members of the LLC members (the Plaintiffs) had acted together to breach their fiduciary duty to him. The
A lawyer has limited remedies to collect on a judgment from a defendant who is unwilling to pay. If the defendant holds stock in a corporation, you can execute on the shares, take possession of them, and sell them. 
It might seem self-evident that the Business Judgment Rule applies to decisions made by the managers of a limited liability company, but if you were looking for a North Carolina case to cite on that point before last week, you wouldn’t have found one.
Can you have a default entered against you if you aren’t a proper party to the lawsuit? The answer is yes, at least on the unique facts before the Business Court in its opinion Friday in the derivative action 
Whether the departure of three partners from a law firm LLC was a withdrawal or a dissolution of the LLC was the issue in .jpg)
This post is about three significant business decisions from courts in other jurisdictions. They involve an issue of attorney-client privilege for limited liability companies, whether an LLC member can waive his statutory right to seek dissolution of an LLC, and board duties in a merger context.
There’s an old Jackson Browne album called "Lawyers in Love." Lately, there have been a lot of cases involving lawyers out of love, and dissolving their firms. One was decided by the Business Court on June 2nd,