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Case Citations [1] (July 2020 - August 2021)

handle is hein.ali/alicgv0096 and id is 1 raw text is: PRINCIPLES OF CORPORATE GOVERNANCE: ANALYSIS AND RECOMMENDATIONS PART VII. REMEDIES CHAPTER 1. THE DERIVATIVE ACTION § 7.01 Direct and Derivative Actions Distinguished Ind.App.2020. Subsec. (d) quot. in case quot. in sup. Member of a closely-held limited-liability company sued company's other member and former member of the company, alleging direct and derivative claims for, among other things, forgery and counterfeiting, breach of fiduciary duty, and fraud. The trial court entered a judgment of liability against defendants, but later granted defendants' motion to dismiss on the basis that plaintiff failed to prove actual damages. This court reversed and remanded for entry of judgment in favor of plaintiff on certain claims, holding, among other things, that plaintiff established that he was entitled to bring direct claims against defendants under Principles of Corporate Governance § 7.01, because there was no danger of a multiplicity of actions against defendants, there was no evidence that company had creditors that could be prejudiced by a judgment in plaintiff's favor, and plaintiff's direct actions would not interfere with a fair distribution of any recovery, because there was no party other than plaintiff who would be entitled to recover. McLean v. Trisler, 161 N.E.3d 1259, 1268-1269. COPYRIGHT ©2021 By THE AMERICAN LAW INSTITUTE All rights reserved Printed in the United States of America For earlier citations, see the Appendices, Supplements, or Pocket Parts, if any, that correspond to the subject matter under examination. ALI

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