Whether oppressed members of a New Jersey limited liability company are eligible for the statutory protections and remedies expressly provided to shareholders in closely held business corporations is an emerging issue without definitive legislative or judicial resolution. While protections for minority shareholders in a corporate setting are well established by statute and case law, treatment of the same conduct with respect to limited liability companies has been less clear.
Although neither the New Jersey Supreme Court nor the Appellate Division has spoken directly on this issue, the trend over the last decade signals that oppressed shareholder protections and remedies have been imported to the LLC context and should be available to LLC members.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
