Hershey v. Donaldson, Lufkin & Jenrette Securities Corp.

TORRUELLA, Circuit Judge.

This case arises from the sale of a corporation in which plaintiff-appellant Barry J. Hershey was the controlling shareholder, defendant-appellee David H. Gunning was the Chief Executive Officer, Chairman and President, and defendant-appellee Donaldson, Lufkin & Jenrette Securities Corporation (“DLJ”) was the investment banking firm assisting in the sale. Hershey alleges breach of fiduciary duties by Gunning and DLJ, misrepresentation and breach of contract by DLJ, and fraudulent inducement by Gunning. The district court granted summary judgment to the defendants on…