Busher v. Barry, Jr. et al, 14-cv-04322-NSR-JCM

March 12, 2019

On March 12, 2019, the Honorable Nelson S. Roman denied Plaintiffs’ motion for summary judgment. The Court also partially denied Defendants’ cross-motion for summary judgment, insofar it related to the defenses of acquiescence, waiver and ratification.

Lovell Stewart is lead counsel in this shareholder derivative action, alleging breach of fiduciary duty, unjust enrichment, and violation of New York Business Corporation Law § 720.  The derivative suit seeks damages based on what the holding company would have gained had market-value lease payments been made, and an injunction nullifying the lease.  For more information, please contact John Halebian, Esq. (JHalebian@lshllp.com)