ARTRA Group, Inc. v. Salomon Bros. Holding Co., Inc.

The plaintiff, ARTRA Group, Inc., appeals the dismissal of its claim alleging that the defendant, D.P. Kelly and Associates (DPK), breached its fiduciary duty to the plaintiff. The parties were involved in an alleged joint venture for the purpose of performing a leveraged buyout of Envirodyne Industries, Inc. (Envirodyne), along with the other named defendants. However, DPK is the only defendant that is a party to this appeal. We affirm.

The following facts are taken from the pleadings. In 1988 the plaintiff owned interests in several companies, including Envirodyne, a publicly traded food…