Mass. Top Court OKs Extra Benefits For Covert LLC Mergers

Law360, Boston (May 30, 2018, 4:10 PM EDT) -- The Massachusetts Supreme Judicial Court on Wednesday in a matter of first impression ruled that a minority shareholder in a limited liability company may be entitled to a little something extra if a secret merger takes place over his or her objection that it breaches fiduciary duty, but that remedy may not include calling off the union altogether.

The state's top appellate court affirmed a lower court ruling in a suit involving two former business partners and a secret merger. The Supreme Judicial Court held that in the event of an LLC merger that draws an objection from a minority shareholder,...

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