RECENT CASES OF SHAREHOLDER DISPUTES HAVE UNDERSCORED THE CONTRAST BETWEEN THE LLC & CORPORATION ACTS
Those in the New Jersey legal community have been increasingly aware of a current movement by the New Jersey Bar Association to have the Limited Liability Company Act modified to resemble the Professional Service Corporation Act. There have been recent cases of shareholder disputes that have underscored the contrast between the LLC and Corporation Acts with respect to how they treat the valuation dates for valuing a withdrawing member’s share in an entity.
In this broadcast of Forensic Perspectives, forensic accounting expert Mark S. Gottlieb speaks with attorney Daniel Gielchinsky, Esq. regarding the similarities and differences between limited liability companies and corporations and the New Jersey Bar Associations interest to modify the Limited Liability Company Act.