Do members of an LLC have the right to bring a derivative suit against managers of the company?

Soterios Tzolis owned 25 percent of Smith Pennington Property Co. LLC, which owned a Manhattan hotel. Herbert Wolff managed the LLC. Tzolis alleged that Wolff first leased and then sold the hotel to family and friends at a price below market value. Tzolis filed a derivative suit against Wolff on the grounds that the man had violated his duties to the LLC. The trial court ruled that members of an LLC had no right to bring a derivative action because the statute had not explicitly permitted such suits. Tzolis appealed.