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Lieberman v. Wyoming.com LLC

11 P.3d 353 (2000)

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Lieberman v. Wyoming.com LLC

Wyoming Supreme Court
11 P.3d 353 (2000)

Facts

E. Michael Lieberman (plaintiff) and two associates formed a limited-liability company (LLC), Wyoming.com LLC (Wyoming.com) (defendant). Lieberman’s initial capital contribution to the LLC was $20,000. Four years later, Lieberman served Wyoming.com with a notice of withdrawal from the LLC and demanded the return of his share of the current value of the company, which he estimated at $400,000. The other members of Wyoming.com accepted Lieberman’s withdrawal and elected to continue, rather than to dissolve, Wyoming.com, but they refused to return Lieberman’s requested share of the company’s current value. Rather, Wyoming.com offered to return only Lieberman’s initial capital contribution of $20,000. The trial court granted summary judgment to Wyoming.com, holding that Lieberman, as a withdrawing member of an LLC, was entitled only to the return of his initial capital contribution. Lieberman appealed.

Rule of Law

Issue

Holding and Reasoning (Lehman, C.J.)

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