This sounds like the scene in The Office where Michael Scott says "I Declare Bankruptcy".
Just because you declare it, doesn't make it so.
In general, in LLCs, there are rules around amendments to the operating agreements for the company. It is likely very cut and dry as to whether passing the amendment is allowed under the operating agreement. Courts generally frown upon amendments that are specifically passed to disenfranchise other investors.
The question is - is it worth it to you to go after them, in court or via counsel, to reverse the amendment and manage the business? If not, it may be better to work through a buyout and call it a day. They be more receptive to this than having you sue them and end up losing.
(EX - Forget the amendment, bad actor pays you each $100k for your shares and you are out.)
(Disclaimer - Not a lawyer, you should get one, not legal advice.)
Just because you declare it, doesn't make it so.
In general, in LLCs, there are rules around amendments to the operating agreements for the company. It is likely very cut and dry as to whether passing the amendment is allowed under the operating agreement. Courts generally frown upon amendments that are specifically passed to disenfranchise other investors.
The question is - is it worth it to you to go after them, in court or via counsel, to reverse the amendment and manage the business? If not, it may be better to work through a buyout and call it a day. They be more receptive to this than having you sue them and end up losing.
(EX - Forget the amendment, bad actor pays you each $100k for your shares and you are out.)
(Disclaimer - Not a lawyer, you should get one, not legal advice.)