On June 3rd, a federal district court dismissed a securities fraud lawsuit brought by minority shareholders of a limited liability corporation. Plaintiffs failed to plead with particularity material misstatements or omissions and failed to plead a strong inference of scienter. The alleged conversion of plaintiffs' shares from voting shares to economic interest shares did not constitute a forced sale and does not support standing under the Securities Exchange Act. Desserault v. Yakima Chief Property Holdings, LLC.