Document: In Re: Arrow Investment Advisors, LLC, C.A. No. 4091-VCS, Strine, V.C. (Del. Ch. April 23, 2009)
Petitioner sought dissolution of the Respondent Arrow Investment Advisors, LLC (the “LLC”) on the grounds that it failed to fulfill the LLC’s original business plan and based on breach of fiduciary duties. The LLC moved to dismiss the petition and the Court granted the motion as Petitioner failed to allege that the LLC was not operating in accordance with the broad purposes set forth in its LLC agreement. The Court also would not entertain a claim for dissolution based on unproven breaches of fiduciary duty.