Lieberman was a member of the LLC Wyoming.com. After he withdrew, he and the other members disagreed about what his membership was worth. Wyoming.com filed suit asking the court to determine the financial rights and obligations of the parties, if any, upon withdrawal of a member.

The Supreme Court of Wyoming ruled that Lieberman still owned part of the business despite this withdrawal, but neither the LLC statute nor the company’s operating agreement required the LLC to pay a member the value of his share. Therefore, neither party had any further rights or obligations. Lieberman was still an owner but he was not entitled to any payment. Lieberman filed a motion seeking financial information about the company. The trial court denied the motion; since Lieberman had no rights to a payout, the company had no obligation to give him financial data.

Questions:

1. Does Lieberman have a right to any financial data about Wyoming.com?

2. Does Mr. Lieberman want to be a part of this LLC any longer?

3. According to the court, why can’t Mr. Lieberman withdraw from Wyoming.com?

4. This seems like a crazy result: forcing a person to remain a member of an LLC but not allowing that person to receive the value of his equity share. How could this result have been avoided?