Sgaglione v. Levitt

Appeal from an order of the Supreme Court at Special Term, entered December 31, 1975 in Albany County, which denied plaintiffs’ motion for a preliminary injunction and granted defendant’s motion for summary judgment dismissing the complaint. This action seeks to establish that the defendant may not exercise his discretion to purchase New York State obligations as trustee of the common retirement fund without first showing that it is a sound exercise of discretion and/or to establish that the defendant may not purchase such obligations as a matter of law. The background of this proceeding is…