Kreiss v. McCown De Leeuw & Co.

OPINION AND ORDER

LYNCH, District Judge.

This diversity case, acknowledged by the parties to be governed by New York law, arises from the founding of a company, Outsourcing Solutions, Inc. (“OSI”). OSI, one of the defendants in this action, is engaged in the acquisition of debt-portfolio purchasing and contingent-fee collection companies. The other defendant in this action, McCown De Leeuw & Co. (“MDC”) (collectively with OSI, “Defendants”), is a private venture capital firm that provided a substantial portion of the initial financing for OSI. Plaintiffs David Kreiss and Gregory Shelton allege…