LLC lawsuit

By: Martin M. Shenkman, CPA, MBA, JD

Someone can sue an LLC just as anyone can sue any business, entity or person. If the LLC has adhered to the appropriate formalities and maintained its identity and business purpose the claimant should not be able to reach personal assets of the members (owners) or managers (persons who operate/manage the LLC). In some instances, the LLC may have so ignored formalities (e.g., commingling funds from the business and personal matters).

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