Henneberry v. Sumitomo Corp. of America
District Court, S.D. New York
1Opinion of the Court
OPINION AND ORDER
LEISURE, District Judge.
This action arises out of a failed investment transaction between William Henneberry, the Chief Executive Officer and majority common stock shareholder of Smartix International Corp. (“Smartix”), and defendant-investor Sumitomo Corporation of America (“SCOA”), Robert Graustein, a Senior Vice president of SCOA, and Sumitomo Corporation (“Sumitomo”), SCOA’s parent company. In a complaint dated March 17, 2004, plaintiff asserted causes of action against all defendants for (1) detrimental reliance, on the alternative bases of promissory estoppel and…
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