Individuals Securities, Ltd. v. American International Group, Inc.

In an action to recover damages for fraud, the plaintiff appeals, as limited by its brief, from so much of an order of the Supreme Court, Suffolk County (Werner, J.), dated March 17, 2005, as granted the defendants’ motion for summary judgment dismissing the complaint.

Ordered that the order is affirmed insofar as appealed from, with costs.

The facts underlying the complaint arose from the defendants’ failure to cover the plaintiffs alleged loss under the terms of a securities dealer blanket bond (hereinafter the bond). The plaintiff discovered the loss in February 1989 and reported it to the…