619-232-8151 Practicing in San Diego since 1962

Steve Grebing and Amy Simonson Successfully Defend Managers of a Development LLC Against a $64 Million Claim of Breach of Fiduciary Duty by a Minority Member

Steve Grebing and Amy Simonson successfully defended two managers of an LLC against claims of gross negligence and breach of fiduciary duty after efforts to develop a substantial commercial project in Riverside County failed.  A minority member of the development LLC argued, in a derivative claim, the actions of the managers caused the project to fail, resulting in a $64 million loss to the company.  Grebing and Simonson argued the managers acted within the appropriate standards for the management of the company and in accordance with the business judgment rule.  At trial, Grebing and Simonson obtained a defense verdict in favor of the managers, with all claims against them being rejected by the Court.

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