Shoma Coral Gables, LLC v. Gables Investment Holdings, LLC
An LLC member won a $10 million jury verdict for reliance damages against its co-member for breaching an operating agreement by unilaterally shutting down a condominium project, but the trial court vacated the verdict post-trial on the ground that the claim was derivative rather than direct. The Third DCA reversed, holding that under Delaware's Tooley test Shoma stated a direct claim because the operating agreement conferred independent contractual rights of joint management and control over affiliate transactions personally on the member, and Shoma sought only its own reliance damages.
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