Excessive management fees charged by a majority owner can potentially be the basis for a derivative lawsuit in certain circumstances. In corporate law, a derivative lawsuit is a legal action brought by shareholders on behalf of a corporation against third parties, often including insiders such as officers, directors, or controlling…
In order to win a consumer fraud case about a rebuilt wrecked automobile or vehicle, it would be necessary to demonstrate several key points. 1. The seller misrepresented or concealed the actual condition of the vehicle, such as by failing to disclose that the vehicle was a rebuilt wreck or…
The elements of a wrongful removal or freezing out of a partner in a business context include the following: 1. Exclusion of a partner from participation in the business: This implies that a partner is denied the right to participate in the operations and decisions of the business [1]. For…
Choosing the best attorneys for a corporate oppression matter in Illinois involves considering several factors. Look for a legal team with extensive experience in corporate law and specifically in handling shareholder disputes and oppression cases. They should have a strong track record of successfully advocating for minority shareholders’ rights. Also,…
In Illinois, the pleading requirements for consumer fraud and common law fraud differ in several key aspects: Common Law Fraud: To establish a case for common law fraud, you must demonstrate five elements: A false statement of material fact made by the defendant to the plaintiff. The defendant knew the…
Illinois has two rules that can be used to dismiss cases which allows for more flexibility in defending some actions then in federal court where there is only one means to seek dismissal of an action. A Section 2-615 motion to dismiss and a Section 2-619 motion to dismiss under…
Choosing Lubin Austermuehle for business litigation offers several compelling advantages. Firstly, the firm is known for its commitment to achieving significant victories and effecting change for clients and the community. This dedication is reflected in the firm’s ability to deliver high-quality services with a level of personal attention that is…
In Illinois, tortious interference with contract and tortious interference with prospective business relations are two distinct torts with different pleading requirements. To establish a case for tortious interference with contract, the plaintiff must show the following [7]: 1) Existence of a valid and enforceable contract between the plaintiff and another…
Diversity of citizenship cannot be asserted merely on information and belief when it comes to the members of a Limited Liability Company (LLC). For diversity jurisdiction purposes, the citizenship of an LLC is determined by the citizenship of each of its members. A simple declaration of diversity of citizenship is…
“As is” and certain other non-reliance or purported exculpatory clauses under the common law, have not provided a defense against fraud in Illinois courts for decades. This is particularly important where, as in most automobile sales transactions, one party is unsophisticated, and the other party, like a used car dealer,…