News & Analysis as of

Limited Liability Company (LLC) Jurisdiction

Akin Gump Strauss Hauer & Feld LLP

Delay in Correcting Disclosure of Real Parties-in-Interest not Procedurally Fatal to IPR Petition

The Patent Trial and Appeal Board instituted an inter partes review over patent owner’s objections that the petition did not timely identify all real parties-in-interest (RPI) and was filed by a phantom legal entity after...more

Husch Blackwell LLP

Establishing General Personal Jurisdiction for an LLC

Husch Blackwell LLP on

To exercise valid jurisdiction over any claim, a federal court must have both personal jurisdiction and subject matter jurisdiction. Subject matter jurisdiction can be based on diversity of citizenship, the presence of a...more

Ankura

What You Need To Know about FinCEN’s Ultimate Beneficial Ownership Reporting Rule

Ankura on

On September 30, 2022, FinCEN published the Ultimate Beneficial Ownership (UBO) Reporting Rule (the Rule), which implements reporting requirements regarding Beneficial Ownership Information (BOI) under the Corporate...more

Cadwalader, Wickersham & Taft LLP

Reliable Expectations May 2024 - Investors, We're Relying on You

Delaware remains the most popular jurisdiction for the domestic formation of private equity and venture capital funds (a “Fund”) as either a limited partnership or limited liability company.  In fact, 54.8% of the deals...more

McDermott Will & Emery

Corporate Transparency Act: What to Know

McDermott Will & Emery on

The Corporate Transparency Act (CTA) introduces beneficial ownership reporting requirements effective January 1, 2024, for new and existing companies. Below is an overview of the new reporting obligations imposed by the CTA....more

Allen Matkins

May A Member Of A California LLC Consent To The Jurisdiction Of Another State's Courts?

Allen Matkins on

Section 17701.10 of  California's Revised Uniform Limited Liability Company Act (RULLCA) provides that an operating agreement serves the following four purposes...more

ArentFox Schiff

Minority Business Owners and Trust Beneficiaries May Be Able to Obtain Otherwise Privileged Documents

ArentFox Schiff on

In certain circumstances, shareholders of corporations and members of limited liability companies can obtain confidential communications between corporate management and the company’s attorney that would otherwise be...more

Farrell Fritz, P.C.

Take the Business Divorce Pop Quiz!

Farrell Fritz, P.C. on

It’s been many years since our last pop quiz for all you business divorce aficionados. Time for another. See how many you get right before you read the answers...more

Foley & Lardner LLP

Texas Legislature Passes Bill Creating Specialized Business Trial Courts: 12 Things You Need To Know Now

Foley & Lardner LLP on

On May 25, 2023, the Texas Legislature passed HB 19, legislation that creates specialized business courts. The bill now will make its way to the Governor’s desk for consideration. Here is what you need to know now:...more

Vicente LLP

Forming Psychedelic Companies: 10 Lessons from the Cannabis Industry

Vicente LLP on

A new industry is emerging in the United States, and entrepreneurs in the psychedelics space must make critical decisions at the onset of new ventures regarding how to set up and structure their new businesses. While there is...more

Butler Snow LLP

To Plead or Not to Plead Citizenship? That Is the Question (Among Others) for Limited Liability Companies Asserting Diversity...

Butler Snow LLP on

Jurisdiction always matters. Of course, litigants and the courts tend to focus on the merits. After all, the merits, not rote jurisdictional analyses, are what a lawsuit is all about. But parties cannot ignore basic...more

Perkins Coie

FinCEN’s Highly Anticipated Beneficial Ownership Reporting Rule Under CTA Effective January 1, 2024

Perkins Coie on

The U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) issued its highly anticipated final rule implementing the beneficial ownership information (BOI) reporting requirements of the Corporate...more

Dunlap Bennett & Ludwig PLLC

Civil Procedure: The Forum Defendant Rule

Can a Lawsuit Filed With the Intent to Remain in State Court Actually Avoid Removal? In December 2021, our office (DBL Tulsa) filed an action in a State of Oklahoma district court against two entity defendants, alleging...more

Latham & Watkins LLP

Decentralized Autonomous Organizations: Piercing the Digital Veil

Latham & Watkins LLP on

A complaint filed in federal court will test the boundaries of protection from liability for individuals behind decentralized autonomous organizations. On May 2, 2022, a putative class action was filed in the US District...more

Farrell Fritz, P.C.

Business Divorce Alert: Forum Selection Clauses Do Not Confer Subject Matter Jurisdiction in Foreign Entity Dissolution Cases

Farrell Fritz, P.C. on

As I wrote here, in 2016 the Manhattan-based Appellate Division, First Department decided Raharney Capital LLC v Capital Stack LLC, overruling its own precedent and joining appellate rulings by the other Departments holding...more

Allen Matkins

LLC Member Missing In Regulatory Filings May Be A Member Nonetheless

Allen Matkins on

Adam Beeman claimed to be a member in Legacy Insurance Solutions, LLC, a California limited liability company.  In support of his claim to membership, he submitted two operating agreements identifying himself as a member. ...more

White and Williams LLP

Choosing Delaware Law Does Not Mean You Can Litigate In Delaware – The Sequel

White and Williams LLP on

In our August 2017 alert, we cautioned that Delaware choice-of-law provisions standing alone will not confer jurisdiction in Delaware. To best support an argument for litigating in Delaware, we advised that a combination of...more

Farrell Fritz, P.C.

Unauthorized Certificate of Revival Dooms Delaware LLC’s Claims Against Former Managing Members

Farrell Fritz, P.C. on

The proverb “All for the want of a horseshoe nail” aptly describes the possibly mortal blow dealt by the Appellate Division’s recent decision in Favourite Ltd. v Cico, 2020 NY Slip Op 01463 [1st Dept Mar. 3, 2020], to a...more

Allen Matkins

This California Securities Law Allows California Issuers To Choose The Law Of Another Jurisdiction

Allen Matkins on

One might reasonably expect that California law will apply to matters involving the transfer of securities issued by corporations and other issuers organized under California law. These California issuers, however, are free...more

Allen Matkins

State Of Formation Does Not Define Securities Law's Jurisdiction

Allen Matkins on

A common misconception is that the securities laws of an issuer's state of formation govern all offers and sales of that issuer's securities. In California, however, the application of the state's securities laws turns on...more

Patton Sullivan Brodehl LLP

Think Carefully Before Forming an “Out of State” LLC

Many California-based LLC managers and members are lured by the potential benefits of forming the LLC under the laws of a jurisdiction outside of California. Delaware can be an enticing option. Delaware is known for its...more

K&L Gates LLP

Purported Assignment of Limited Liability Company Interest Impacts Jurisdiction Under Conspiracy Theory of Jurisdiction

K&L Gates LLP on

In Perry v. Neupert, the Delaware Court of Chancery found that it could exercise personal jurisdiction over a Liechtenstein entity under the conspiracy theory of jurisdiction....more

Allen Matkins

Court Lacks Authority To Order Buyout Of Foreign Entities

Allen Matkins on

When one partner or members seeks the dissolution of a California limited partnership or limited liability company, the other partners or members may keep the LP or LLC alive by purchasing, for cash, the interests owned by...more

Patterson Belknap Webb & Tyler LLP

Speak Now? The Ninth Circuit Weighs in on Appellate Standing

A recent decision from the Ninth Circuit Court of Appeals highlights an existing circuit split regarding appellate standing. Courts in the Fourth and Seventh Circuits have disagreed whether objection and attendance at a...more

Morris James LLP

Court Of Chancery Explains Expanded Jurisdiction Under Director Consent Statute

Morris James LLP on

LVI Group Investments LLC v. NCM Group Holdings LLC, C.A. No. 12067-VCG (Del. Ch. Mar. 28, 2018) - In Hazout v. Tsang Mun Ting, 134 A.3d 274 (Del. 2016), the Delaware Supreme Court expanded the basis for personal...more

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