CPF Acquisition Co. v. CPF Acquisition Co.

—Order, Supreme Court, New York County (Herman Cahn, J.), entered May 30, 1997, which, in a shareholder derivative action, insofar as appealed from as limited by defendants-appellants’ brief, denied defendants-appellants’ motions to dismiss the amended complaint for lack of standing, unanimously reversed, on the law, with costs, and the matter remanded to the IAS Court for further consideration, including findings on whether plaintiff is qualified to serve in a fiduciary capacity as a representative of the subject corporation’s shareholders.

Plaintiff’s standing to sue is governed by Delaware…