Christopher Ashworth and Kathryn Barrett Obtain Favorable Settlement During Trial on Case Involving Struggle Among Members and Managers for Corporate Control of LLC
Litigation partner, Christopher Ashworth and Sr. attorney Kathryn Barrett obtained a favorable settlement during a trial on a case involving a struggle among members and managers for corporate control of alimited liability company. Five days into trial and after prevailing on a preliminary injunction, Silicon Valley Law Group obtained a very favorable settlement on behalf of their client. The client, an LLC, was controlled by several member/managers including a minority member who possess and was attempting to employ certain minority rights thought by other managers to be detrimental to the company. The client company sued to remove the member's minority rights and to remove the member/manager from the board of managers of the company. The minority member and manager cross complained claiming $300 million in damages. During the litigation, Silicon Valley Law group prevailed on multiple applications for temporary restraining orders and on several preliminary injunction motions involving control of the entity. Trial commenced and five days into the trial, the parties settled. The client company was no longer saddled with minority rights in favor of the defendant. In addition, the defendant was removed as a manager of the client company.