Business Associations
Lieberman v. Wyoming.com LLC
Supreme Court of Wyoming
82 P.3d 274 (2004)
Facts
Wyoming.com LLC (defendant) was a Wyoming limited liability company (LLC). E. Michael Lieberman (plaintiff) was a member of the LLC. Lieberman served Wyoming.com with a notice of withdrawal from the company, which demanded the return of his share of the current value of the company, which he estimated at $400,000. The members of Wyoming.com accepted Lieberman’s withdrawal, elected to continue, rather than dissolve, Wyoming.com, but refused to return Lieberman’s requested share of the company’s current value. Wyoming.com filed an action for declaratory judgment to define its rights against Lieberman. Lieberman filed suit requesting dissolution of Wyoming.com. The actions were consolidated. The district court ordered liquidation of Lieberman’s equity interest, valued as the balance of his capital account as of the date of his withdrawal, which was negative. Lieberman appealed.
Rule of Law
The rule of law is the black letter law upon which the court rested its decision. To access this section, start your 7-day free trial of Quimbee for Law Students.
Issue
The issue section includes the dispositive legal issue in the case phrased as a question. To access this section, start your 7-day free trial of Quimbee for Law Students.
Holding and Reasoning (Golden, J.)
The holding and reasoning section includes:
- A “yes” or “no” answer to the question framed in the issue section;
- A summary of the majority or plurality opinion, using the CREAC method; and
- The procedural disposition (e.g. reversed and remanded, affirmed, etc.).
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Dissent (Lehman, J.)
The dissent section is for members only and includes a summary of the dissenting judge or justice’s opinion. To access this section, start your 7-day free trial of Quimbee for Law Students.