Supreme Court of Delaware

In a breach of contract action based on an alleged modification to a limited liability company operating agreement's compensation provisions, summary judgment for defendants is affirmed where 1) the company founders never departed from the original "cap and comp" agreement and the company did not owe plaintiff an equity payout; and 2) the statute of frauds prohibited the alleged oral amendment to the operating agreement.

Appellate Information

• Decided 12/15/2009
• Published 12/15/2009

Judges

• STEELE, Chief Justice., Before STEELE, Chief Justice, HOLLAND, and JACOBS, Justices.

Court

• Supreme Court of Delaware

Counsel

• For Appellant:
  
• Collins J. Seitz, Jr. and Bradley R. Aronstam of Connolly Bove Lodge & Hutz LLP, Wilmington, DE; David C. Frederick (argued), Scott H. Angstreich and Scott K. Attaway of Kellog, Huber, Hansen, Todd, Evans & Figel, PLLC, Washington, DC, for appellant.


• For Appellees:
  
• Jon E. Abramczyk and John P. DiTomo of Morris, Nichols, Arsht & Tunnell LLP, Wilmington, DE; Andrew L. Frey (argued), Charles A. Rothfeld, Andrew H. Schapiro and Hannah Y.S. Chanoine of Mayer Brown LLP, New York, NY, for appellee.