International Equity Investments, Inc. v. Opportunity Equity Partners Ltd.

MEMORANDUM OPINION

KAPLAN, District Judge.

Once again, this matter is before the Court on a motion for a preliminary injunction. The Court finds that plaintiffs are likely to prevail on their claim that defendants are breaching their fiduciary-duties to plaintiffs by their proposed conduct.

Facts

A. The Investments in Brasil Telecom

In the late 1990s, Citibank N.A. (“Citibank”) and a group of Brazilian pension funds (the “Pension Funds”) selected defendant Daniel Valente Dantas and his entity, defendant Opportunity Equity Partners, Ltd. (“Opportunity”), to manage investment funds in Brazil on…