He also sent a letter to all the other LPs telling them that the GP had committed “fraud and criminal misconduct” and asking for every LP’s unified commitment to ignore any future capital calls. The express goal was a unified front to bring the GP to the table to renegotiate the terms of the partnership agreement. His actions resulted in like half the LPs not timely funding. The GP had to meet each LP individually and assure them that the guy’s allegations were bullshit and the Fund will enforce the capital call if they decided to continue holding out. Eventually, at great time time and expense to the fund, everyone funded. So we’ll also throw a tortious interference claim in when we sue the irony is the Fund is crushing. Of its 20 portfolio investments, only one is in the red (and only slightly). Most are at least 2x or more right now with multiple home-runs in the mix. Guy is an idiot.
If the LP needed cash/didn’t have cash to fund, they’d likely have taken the buy-out at par plus a release of their remaining commitment and walked away. IME non-institutional fund investors experiencing a liquidity crunch would gladly be bought out at par because the crunch is probably coming from their primary income streams (think tort reform killing 90% of a practice area - would look to get cash back from where it was previously parked)
What’d your guy run up the tab on thinking he’d get away with it? Art? https://www.bloomberg.com/opinion/newsletters/2025-11-05/hedge-fund-charged-clients-for-art
our appellate courts have allowed defendants to get away with this. There was an ice machine in a grocery store that was leaking constantly, everyone knew about it, they left a wet floor sign up in front of it , someone predictably busted their ass , trial court gave MSJ to defendant, appellate courts upheld it. I thought it was one of the most egregious bullshit appellate rulings I've ever seen for premises law.
Folks, we’ve done it! We have found the final boss of all LinkedIn posts. Nobody has been more LinkedIn than this douchebag. What a fucking loser:
Progressive cracks me up. Just file on every case and they increase their offer by 20-40% and just settle before they file an answer
told him we don't owe him anything we aren't paying him anything on 11/18 and he sent this this morning: Case law says you do. So I will give you until Friday to figure out the law. just replied "or what" could get interesting
Still think it's crazy one of my partners just happened to be in an uber earlier this year where the driver said he needed legal help for a family member. Turns out his family member had been burned in a gas explosion at an apartment complex. Several months later we settled with some defendants for $1.2M and yesterday my partner said another $1M is going to be tendered soon.
Any of you guys do class action stuff? I imagine it’s relative niche considering the myriad of administrative tasks associated with them. I’ve seen enough class action checks for $0.67 but also curious if as the lead plaintiff someone gets a larger piece of the overall pie. Long story short, health insurance plan documents say they cover a $100 class but has no way of submitting claims for it so it never gets paid. This particular employer is among the largest in the US so the insured number in the hundreds of thousands.
My understanding is that the lead plaintiff gets a lot more than other class members due to having to do more work during the case.
got them struck this morning. it's two people with 55k in medical bills so they just turned a $60k claim into a $200k one because they wanted to save 10. some of these insurance companies are so goddamn dumb.
Well counselor, let’s get to work taking down United Healthcare! They will call us Mario for the damage we do within the bounds of established law
So I had a Non-Binding arbitration with one of my favorite mediators/arbitrators a few months ago. He was supposed to give us a ruling within 14 days. Turns out he was diagnosed with stage 4 cancer days after the NBA hearing. So naturally we gave him all the time he needed to give us a ruling. Finally got a ruling the day before thanksgiving. Straight defense decision based on incorrect case law that we already had a ruling from the court saying didn't apply to this case. Sent him an email yesterday asking for clarification if he was aware of the ruling from the court saying the case law he cited didn't apply. Got a response back this morning that he died. I feel like a real asshole for some reason even though how was I supposed to know? He was also a really chill guy and great to work with. But also now, I need to file a motion to get his decision overturned (assuming that is even possible.) Just a terrible situation all around.
If I am diagnosed with stage 4 cancer do not expect any further work out of me and just go ahead and prepare to file with my estate for whatever fee/refund you think you’re due
That was my first message to him, saying don't worry we will just re-do the NBA with someone else so he could focus on his health. He said not to worry and that he'd get the award out when he could.
Yeah you should have been more adamant that his health comes first. None of us would be reliable or in the right mind space in that situation so getting someone else was the move.
Follow-up. I represent the defendant, and the derivative plaintiff filed a complaint and separate motion for TRO and preliminary injunction. The court denied their motion for TRO and preliminary injunction. Can the my client recoup her attorney fees for defending the TRO/injunction only, even if she has to pay her own way moving forward defending on the merits? The operating agreement says in full: “The LLC shall indemnify the Member and those authorized officers, agents, and employees of the LLC identified in writing by the Member as entitled to being indemnified under this section for all costs, losses, liabilities and damages paid or accrued by the Member (as the Member or officer, agent, or employee) or any such office, agent, or employee in connection with the business of the LLC, except to the extent prohibited by the laws of the state that governs this Agreement. In addition, the LLC may advance costs of defense of any proceeding to the Member or any such officer, agent, or employee upon receipt by the LLC of an undertaking by or on behalf of such person to repay such amount if it shall ultimately be determined that the person is not entitled to be indemnified by the LLC.” Shittily written, I know
Hit another pretty big lick ($1.3+) in south Alabama yesterday. The jury was out from 4:30 - 6:30 Tuesday and then 9:00 - 12:30 yesterday. There’s no high like the time from the knock to the verdict.
Because the provision is so bare bones, I think you're going to have to rely on your state's indemnification statute to determine the procedural aspects of indemnification and when indemnification becomes due. My initial thought, without research, is the mandatory indemnification only kicks in when the matter finally disposed on the merits. I would not consider a ruling on a TRO or prelim injunction a final disposition on the merits. Indemnification prior to final disposition would require the LLC's governing authority to make the determination that the indemnitee has satisfied the standard for indemnification. I don't what the management provisions say in this agreement, but I doubt your client can achieve this in a 50-50 member-managed LLC. Also, notice the provision doesn't say "defend and indemnify," as you would normally see. It just says "indemnify." So I don't think the company has a obligation to cover the defense. It's arguably only required to reimburse defense costs upon final disposition (assuming "costs" without express reference to attorneys' fees includes reimbursement of attorneys' fees in your jurisdiction). Advancement is clearly also permissive, not mandatory. So again, I think you're client's in a bad spot on getting advancement where we have 50-50 member-managed LLC. I'm not a litigation guy, but I think you need to press the issue to the court. Maybe assert a DJ action and ask the court to make a preliminary decision on indemnification. Perhaps ask the court to order that the LLC to deposit anticipated costs of defense into the registry of the court pending final disposition -- argument being that by the end of the litigation, the company wouldn't have the assets to indemnify? I don't know how all this works. I just draft things and let my colleagues fight over it.
I agree with Stagger Lee, particularly on the points that a TRO/preliminary injunction are not far enough along in the process so as to be entitled to indemnification. Assuming an AL LLC, the AL LLC Act's indemnification statute is useless (10A-5A-4.10). Your reference to "derivative plaintiff" also changes things. So this is one member in a two-member LLC bringing the action in the name of the LLC against your client who is the other member?
Congrats dude! Spoiler Meanwhile, I'm just over here counting my hours worked by the 1/10th hoping to cover this month's overhead :(
So if plaintiff wins, any damages your client has to pay go to the LLC. And then you want the LLC to repay your client those damages plus expenses pursuant to the indemnity?
In a perfect world, the LLC would have to pay attorney fees right now, as this thing goes forward, because then the plaintiff is going to just see the bank account being drained and realize this whole thing needs to go away, or she needs to take a cheaper buyout, etc. but yes, 50% of any damages my client would ultimately have to pay would practically end up in her pocket anyway. The goal was to make it expensive in the interim.
Obviously not a big company, but a decent small business owned by a great referral source, ergo my involvement
Got a $26M life care plan on a case with $11M in coverage. it’s a medical malpractice case. should be interesting
This fucking guy again on LinkedIn. Almost makes me miss the daily Pollard humblebrags about beating another “beta male cuck” in the courtroom. Bro, calm down. You represent fucking robocallers: