Kuroda v. SPJS Holdings

Summary

Oral argument on 3rd party defendant's motion to dismiss.

Via our friends at the the Delaware Litigation Blog: "The factual background involves an intricate web of overlapping entities. The central fact that is key to this dispute is that a few investment management professionals formed several entities for the primary purpose of investing in Japanese companies. The plaintiff was the main "point man" in Japan. Eventually, the plaintiff and the other members of the LLC had disagreements that caused the plaintiff to want to leave. This litigation started when the negotiations for an amicable departure were unsuccessful. Among the problems that gave rise to the suit included the alleged failure of the defendants to provide full payment that the plaintiff thought he was owed, and the issuance to the plaintiff of a K-1 purporting to assign him $10 million in income that he apparently did not receive."

http://www.delawarelitigation.com/2009/04/articles/chancery-court-updates/chancery-court-dismisses-sundry-claims-against-llc-members/