Wells v. Shearson Lehman/American Express, Inc.

OPINION OF THE COURT

Kaye, J.

An action against financial advisors who rendered opinions on the financial fairness to shareholders of a proposed leveraged buyout is barred by a release in settlement of a prior Delaware class action challenging the buyout. While the financial advisors were not parties to the Delaware class action, we conclude that, applying the law of Delaware or the law of New York, the release discharging the named defendants, their "agents * * * representatives * * * or anyone else”, unambiguously precluded the pending action.

I

Plaintiff, Rosalind Wells, brings this action…