Date Filed: September 22, 2021 Case Number: B298119 Court: California Court of Appeal, Second Appellate District, Division Seven The Court holds that the trial court possessed jurisdiction to order the winding-up and dissolution of the five limited-liability companies that the parties stipulated to include in the statutory buy-out proceeding, and therefore the alternative decree of dissolution stands. It also holds that Leonard’s breach-of-fiduciary-duty claim is a derivative action, so he lacks standing to sue as an individual; the judgment awarding him compensatory and punitive damages is reversed.
— This case summary was prepared for educational purposes. For the authoritative version, please refer to the full opinion or the official California Courts website .