“Peace did not last long, as a lawsuit by the LLC against Ms. Lamme was followed by an action brought by Ms. Lamme against Mr. Vaccarella and the LLC.” The LLC operating agreement contained an express waiver of the duty of loyalty as to each member,” Peter stated.
Words Have Meaning: NJ Court Upholds Waiver of Duty of Loyalty in LLC
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About Peter D. Hutcheon
Peter D. Hutcheon practices primarily in the areas of business governance, commercial transactions, securities, banking, and finance. Peter counsels management of public and private companies and banking institutions on governance matters. He is an expert on indemnification and insurance issues affecting directors and officers, and has represented parties in major public-private partnership financings. He also represents clients seeking investment capital from private placements, venture capital, and private equity deals, as well as firm commitment underwritten offerings of securities. Peter is experienced in securities matters ranging from stock options to dividend reinvestment plans, has extensive familiarity with bank regulatory matters, and has worked on mergers and acquisitions in the banking industry. Peter is experienced in corporate and financing transactions and has represented both buyers and sellers in public and private corporate acquisition transactions in deals involving over $2 billion.