LLCs and Fiduciary Duties

    For those of you who don't subscribe to Francis Pileggi's blog on Delaware corporate law and have anything to do with drafting LLC agreements, you should consider an RSS feed to his work.  His post on Friday can be found here.  It reports on a significant new decision in Delaware about whether LLC members have fiduciary duties to each other.   Because of the regard for Delaware decisions on a variety of corporate law issues, this decision is likely to have an impact here and elsewhere.