Members brought action against other members in limited liability company (LLC), asserting claims for LLC member oppression, breach of contract, and breach of fiduciary duty after LLC sold substantially all of its assets, and members received nothing for their common shares. The Supreme Court held that: (1) the three-year limitation period for actions seeking an award of damages for improper conduct by managers or members constituted a “statute of limitations,” not a statute of repose; (2) the cause of action accrued when the LLC manager substantially interfered with members’ interests; and (3) the action accrued when the LLC amended its operating agreement, rather than when it sold substantially all assets. Affirmed in part, reversed in part, remanded.