June 2018 - Cohen & Malad, LLP

When can a direct action be brought in the context of a closely held company?

By: Arend J. Abel, Attorney On June 1, the Indiana Court of Appeals addressed the circumstances in which a shareholder in a closely held limited liability company could sue another shareholder for breach of fiduciary duty arising out of alleged mismanagement of the corporation.   Ordinarily, such actions must be brought derivatively, but the Court noted… Continue Reading »