Kaye 1969 Associates v. Lese

Order, Supreme Court, New York County, entered January 26, 1979, denying defendants’ motion for leave to amend their answer to add the affirmative defense of release, reversed, on the law, the facts, and in the exercise of discretion, and the motion granted, without costs or disbursements. The plaintiffs are limited partnerships which entered into transactions in reliance upon financial statements of Realty Equities Corporation (REC) and its subsidiaries, which had been audited and independently certified by the defendant accounting firm. The financial statements indicated that REC had…