Axis Legal Counsel Obtains Mid-Litigation Victory for Minority LLC Member in LLC Membership Dispute
AXIS Legal Counsel has obtained a victory in mid-lawsuit legal proceedings on behalf of a minority member of a California limited liability company in a multi-million dollar business dispute involving the company's majority members.
Los Angeles, CA, November 30, 2015 (Newswire.com) - AXIS Legal Counsel has obtained a mid-litigation victory on behalf of a minority member of a California limited liability company in a multi-million dollar international business dispute involving the company’s majority members. On September 15, 2015, the Los Angeles Superior Court issued a ruling granting a motion for change of venue filed by Axis on behalf of its client, and issuing an order that the opposing party pay the attorneys’ fees and costs for opposing Axis’ motion. The Court not only granted Axis's law and motion papers in full, but also ordered that the opposing party, a women’s fashion manufacturer based out of the Los Angeles Fashion District, pay all the costs of the transfer.
In the litigation proceedings currently underway, AXIS represents the minority member of the LLC, which is one of the largest importers of women’s garments and clothing in the U.S. west coast and Mexico. The underlying litigation involves allegations that the company breached its fiduciary duties towards the minority member / unitholder, engaged in self-dealing transactions, concealed corporate opportunities, mismanaged the company’s finances, deceived and concealed material information from the minority LLC member, and engaged in a freeze-out and squeeze-out of the minority LLC member. There are also allegations that the majority LLC members breached their fiduciary duties owed to the minority member of the LLC, converted the company's assets, engaged in self-dealing and commingled the company's assets. With the Court's order on venue transfer motion, the case has now been transferred to the Los Angeles Superior Court for all further proceedings and trial.
AXIS Legal Counsel represents shareholders in shareholder disputes with corporations, LLCs, partnerships, S corporations, and joint ventures. Shareholder and LLC disputes can involve “freeze-outs,” “squeeze-outs,” breaches of fiduciary duty, termination of employment, unequal access to profits, shutting a shareholder out of the business of the company, raiding corporate assets, and refusing to turnover information. AXIS regularly represents aggrieved shareholders, members, partners, or other owner of a business involved in a dispute involving the majority owners, shareholders, members, or partners and provides aggressive representation of clients in prosecuting their claims for fair dealings from business partners. Axis Legal Counsel’s managing attorney Rabeh Soofi is ranked as one of the “Top Women Lawyers of Southern California” by SuperLawyers Rising Stars, and is a Los Angeles business litigation attorney representing minority shareholders and members in business disputes throughout Los Angeles and California.
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