Schmidt v. Magnetic Head Corp.

Gibbons, J. (concurring in part and dissenting in part).

I agree with so much of the opinions of my colleagues as hold that plaintiffs’ causes of action for reformation, rescission and return of indemnification moneys will withstand a motion to dismiss. I also agree that plaintiffs’ cross motions to disqualify defendants’ attorneys and to preliminarily enjoin defendant Magnetic Head Corporation (Magnetic Head) from indemnifying the individual defendants were properly denied. I submit, however, that plaintiffs’ three causes of action for specific performance, construction and breach of…