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Eric Magnuson Quoted in Massachusetts Lawyers Weekly Article on Butts, et al. v. Freedman, et al. Fiduciary Duties Decision
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Eric Magnuson, a partner and Nutter and co-chair of its Business Litigation practice group, was quoted in Massachusetts Lawyers Weekly. The article, entitled “LLC members didn’t renounce fiduciary duties in operating agreement,” focuses on the recent Butts, et al. v. Freedman, et al. matter that focused on LLC fiduciary duties. Eric was quoted saying that the Butts decision was noteworthy, as it suggested that members of closely held Massachusetts LLC can indeed eliminate, not just limit, their fiduciary duties. He elaborated, “Butts indicates that, as the law currently stands in Massachusetts, elimination of an LLC member’s fiduciary duties is possible under a properly drafted operating agreement.”
