Fitch v. TMF Systems, Inc.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the CourtLahtinen, J.
Appeal from an order of the Supreme *776Court (Kramer, J.), entered September 3, 1999 in Schenectady County, which denied defendant Philip Cifarelli’s motion for summary judgment dismissing the complaint against him.
From November 1988 through September 1989, plaintiffs invested $22,500 in TMF Systems, Inc., a corporation formed to develop, market, sell and service franchises that sold rattan furniture. Prior to plaintiffs’ initial investment in TMF, promotional literature was distributed that identified the business, introduced the principals and officers responsible .for its development and…
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