Legal Opinion

Rogers Revocable Trust U/A/D 12/31/81 v. Bank of America, N.A.

Appellate Division of the Supreme Court of the State of New York

Decided July 2, 2009Published

1Opinion of the Court

Judgment, Supreme Court, New York County *402(Herman Cahn, J.), entered November 14, 2008, after a nonjury trial, declaring defendant’s adjustment of a stock option price proper and binding, unanimously affirmed, with costs in favor of defendant.

The calculation of the postmerger adjustment was not manifest error (see Structured Credit Partners v PaineWebber Inc., 306 AD2d 132 [2003]), and the trial court fairly interpreted the evidence in concluding that it was not done in bad faith (see Thoreson v Penthouse Intl., 80 NY2d 490, 495 [1992]). It was commercially reasonable for defendant to account…

2Cases cited3 opinions

  1. Thoreson v. Penthouse International, Ltd.New York Court of Appeals · 1992
  2. Morgenroth v. Toll Bros., Inc.Appellate Division of the Supreme Court of the State of New York · 2009
  3. Structured Credit Partners, LLC v. PaineWebber Inc.Appellate Division of the Supreme Court of the State of New York · 2003

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