Court of Appeals of New York

In plaintiffs' suit against their former business partner alleging, inter alia, breach of fiduciary duty involving the sale and lease of a building, the judgment of the Appellate Division reinstating four of the claims dismissed by the Supreme Court, is reversed where: 1) the release contained in the Certificate is valid, and plaintiffs cannot prevail on their causes of action alleging breach of fiduciary duty, fraud and misrepresentation; 2) the conversion claim must be dismissed because defendant purchased plaintiffs' interest in the LLC, and as such, there could be no interference with their property rights; and 3) plaintiffs' claim that defendant unjustly enriched himself at their expense is without merit.

Appellate Information

• Decided 11/27/2012
• Published 11/27/2012

Judges

• Pigot

Court

• Court of Appeals of New York

Counsel