Achaian Inc. v. Leemon Family LLC
Delaware Court of Chancery
25 A.3d 800 (2011)
Relevant factsFree
Achaian Inc. (plaintiff) already held a 20 percent interest in Omniglow LLC and acquired an additional 30 percent from the Holland Trust; Leemon Family LLC (defendant) held the remaining 50 percent. Achaian claimed that the transferred interest gave it voting rights equal to Leemon's. Leemon disputed that the transfer conveyed voting rights.
IssueFree
Whether the transfer of an LLC membership interest includes the associated voting rights, as governed by the terms of the LLC agreement.