Collins v. Manhattan & Bronx Surface Transit Operating Authority

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• stating that managing member of LLC owed fiduciary duty of full disclosure to other member in purchase of member’s interest
• permitting a plaintiff to assert a direct breach of fiduciary duty claim against a co-owner of LLC who failed to disclose a high-value offer for the LLC from a third party
• describing the disclosure obligations of an LLC’s managing members to its non-managing members
• failure to disclose third party offer for LLC prior to defendant member’s purchase of plaintiffs shares
• “As the managing member of the company and as a comember with the plaintiff, the defendant owed the plaintiff a fiduciary duty to make full disclosure of all material facts.”
• “As the managing member of the company and as a co-member with the plaintiff, the defendant owed the plaintiff a fiduciary duty to make full disclosure of all material facts.”

Source: CourtListener parenthetical corpus (CC0).