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OLSON v. HALVORSEN

No. 338, 2009.

986 A.2d 1150 (2009)

Brian T. OLSON, Plaintiff Below, Appellant, v. O. Andreas HALVORSEN, David C. Ott, Viking Global Investors LP, Viking Global Partners LLC, Viking Global Performance LLC, and Viking Global Founders LLC, Defendant Below, Appellee.

Supreme Court of Delaware.

Decided: December 15, 2009.

Attorney(s) appearing for the Case

Collins J. Seitz, Jr. and Bradley R. Aronstam of Connolly Bove Lodge & Hutz, LLP, Wilmington, DE; David C. Frederick (argued), Scott H. Angstreich and Scott K. Attaway of Kellog, Huber, Hansen, Todd, Evans & Figel, PLLC, Washington, DC, for appellant.

Jon E. Abramczyk and John P. DiTomo of Morris, Nichols, Arsht & Tunnell, LLP, Wilmington, DE; Andrew L. Frey (argued), Charles A. Rothfeld, Andrew H. Schapiro and Hannah Y.S. Chanoine of Mayer Brown, LLP, New York City, for appellee.

Before STEELE, Chief Justice, HOLLAND, and JACOBS, Justices.

STEELE, Chief Justice:

Brian Olson, the plaintiff below appellant, claims that his investing partners orally amended their LLC's compensation provisions. The Vice Chancellor held that Olson failed to prove an amendment, and that the statute of frauds applies to LLC operating agreements, making the alleged oral amendment nonenforceable. Olson asserts that applying the statute of frauds to LLC agreements contravenes the General Assembly's intent to give LLC agreements...

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