Spielman v. Federal Emergency Management Agency

How courts have described this case

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

• holding that the plaintiff did not allege sufficient control of a limited liability company by a forty-one percent owner who was the company's sole source of financing
• holding that under the LLC act a manager owes fiduciary duties to the LLC and a controlling owner owes fiduciary duties to minority owners
• holding that a plaintiff’s “status as a member of [the LLC] did not create a fiduciary relationship” with the LLC’s other members
• holding that defendant, as a majority member of the LLC, owed a fiduciary duty to plaintiff, a minority member of the LLC
• holding that managers do not owe a fiduciary duty to other member-managers solely on the basis of their relationship as a member-manager of the limited liability company
• holding that a member who owned a 41.5% interest, and who was the largest percentage interest owner, was a minority member who did not owe fiduciary duties to the other members

Source: CourtListener parenthetical corpus (CC0).