Ciro, Inc. v. Gold

OPINION

LATCHUM, Senior District Judge.

I. INTRODUCTION

Defendants Abraham Gold, Jack B. Levine, and Intermediate Securities Limited (“Intermediate”) along with nominal defendants Ciro, Inc. (“Ciro”) and Ciro of Bond Street, Inc. (“Ciro of Bond Street”) have moved to dismiss plaintiffs’ second amended complaint. Docket Items (“D.I.”) 48 & 49. Plaintiffs Edward L. Schuman, Alix Cassa-day, John H. Burrows, and Eunice Caplan are minority shareholders of Ciro. On March 19, 1992, they commenced this shareholder derivative suit on behalf of Ciro and its wholly-owned subsidiary Ciro of Bond Street.…