Legal Opinion
Doppelt v. Denahan
Appellate Division of the Supreme Court of the State of New York
Decided November 22, 2016No. 652447/13 2279 2278PublishedCited by 1 opinion
1Opinion of the Court
Orders, Supreme Court, New York County (Saliann Scarpulla, J.), entered June 1, 2015, which granted defendants’ motions to dismiss the complaint, unanimously affirmed, with costs.
Contrary to the argument advanced by plaintiff, a shareholder who seeks to bring a derivative action on behalf of nominal defendant Annaly Capital Management, Inc., the employees of the company were not an asset that could be monetized, sold or spun off (see Barry & Sons, Inc. v Instinct Prods. LLC, 15 AD3d 62, 69 [1st Dept 2005]). Therefore, the fact that the employees were free to leave the company to form their…
2Cases cited3 opinions
- Werbowsky v. CollombCourt of Appeals of Maryland · 2001
- Shenker v. Laureate Education, Inc.Court of Appeals of Maryland · 2009
- Barry & Sons, Inc. v. Instinct Productions LLCAppellate Division of the Supreme Court of the State of New York · 2005
3Cited by1 opinion
- Park Armory LLC v. Icon Parking Sys. LLCAppellate Division of the Supreme Court of the State of New York · 2022