Legal Opinion
Reiss v. Financial Performance Corp.
New York Court of Appeals
Decided December 18, 2001PublishedCited by 183 opinions
1Opinion of the Court
OPINION OF THE COURT
Smith, J.
The issue here is whether warrants to purchase shares of stock of defendant corporation must be adjusted in light of a reverse stock split authorized by defendant corporation after plaintiffs received warrants. We answer that question in the negative.
Shortly after September 30, 1993, in partial repayment of a loan, defendant authorized the issuance of warrants enabling plaintiff Rebot Corporation to purchase up to 1,198,904 shares of defendant’s common stock for 10 cents per share until September 30,1998. Defendant also issued warrants to plaintiff Marvin Reiss,…
2Cases cited9 opinions
- W.W.W. Associates, Inc. v. GiancontieriNew York Court of Appeals · 1990
- Breed v. Insurance Co. of North AmericaNew York Court of Appeals · 1978
- Wood v. . Duff-GordonNew York Court of Appeals · 1917
- Merritt Hill Vineyards Inc. v. Windy Heights Vineyard, Inc.New York Court of Appeals · 1984
- Intercontinental Planning, Ltd. v. Daystrom Inc.New York Court of Appeals · 1969
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3Cited by183 opinions
- Greenfield v. Philles Records, Inc.New York Court of Appeals · 2002
- Vermont Teddy Bear Co. v. 538 Madison Realty Co.New York Court of Appeals · 2004
- Riverside South Planning Corp. v. CRP/Extell Riverside, L.P.New York Court of Appeals · 2009
- R/S Associates v. New York Job Development AuthorityNew York Court of Appeals · 2002
- (TAN) WORLD TRADE CENTER PROPERTIES, L.L.C., SILVERSTEIN PROPERTIES, INC., SILVERSTEIN WTC MANAGEMENT CO., L.L.C., 1 WORLD TRADE CENTER, L.L.C., 2 WORLD TRADE CENTER, L.L.C., 4 WORLD TRADE CENTER, L.L.C., 5 WORLD TRADE CENTER, L.L.C., WESTFIELD WTC, L.L.C., WESTFIELD CORPORATION, INC., WESTFIELD AMERICA, INC., AND THE PORT AUTHORITY OF NEW YORK AND NEW JERSEY, DEFENDANTS-COUNTER-CLAIMANTS-COUNTER-DEFENDANTS-APPELLANTS-CROSS-APPELLEES, UBS WARBURG REAL ESTATE INVESTMENTS INC., WELLS FARGO BANK MINNESOTA, N.A., AS TRUSTEE FOR THE REGISTERED HOLDERS OF GMAC COMMERCIAL MORTGAGE SECURITIES, INC. MORTGAGE-BACKED PASS-THROUGH CERTIFICATES, SERIES 2001-WTC, AND GMAC COMMERCIAL MORTGAGE CORPORATION, DEFENDANTS-COUNTER-CLAIMANTS-COUNTER-DEFENDANTS-CROSS-APPELLEES v. HARTFORD FIRE INSURANCE COMPANY AND ROYAL INDEMNITY COMPANY, COUNTER-DEFENDANTS-APPELLEES, ST. PAUL FIRE & MARINE INSURANCE CO., COUNTER-DEFENDANT-APPELLEE-CROSS-APPELLANT, SR INTERNATIONAL BUSINESS INSURANCE CO., LTD., PLAINTIFF-COUNTER-DEFENDANT-INTERVENOR, ALLIANZ INSURANCE COMPANY, COPENHAGEN REINSURANCE CO., EMPLOYERS INSURANCE OF WAUSAU, FEDERAL INSURANCE COMPANY, GREAT LAKES REINSURANCE (UK) PLC., GULF INSURANCE COMPANY, HOUSTON CASUALTY CO., INDUSTRIAL RISK INSURERS, LEXINGTON INSURANCE CO., CERTAIN UNDERWRITERS AT LLOYD'S OF LONDON, QBE INTERNATIONAL INSURANCE LIMITED, SWISS REINSURANCE CO. UK LTD., TIG INSURANCE CO., TOKIO MARINE AND FIRE INSURANCE CO., TRAVELERS INDEMNITY COMPANY, TWIN CITY FIRE INSURANCE CO., WÜRTTEMBERGISCHE VERSICHERUNG AG AND ZURICH AMERICAN INSURANCE CO., COUNTER-DEFENDANTS. SR INTERNATIONAL BUSINESS INSURANCE CO., LTD., PLAINTIFF-COUNTER-DEFENDANT, WORLD TRADE CENTER PROPERTIES, L.L.C., SILVERSTEIN PROPERTIES, INC., SILVERSTEIN WTC MANAGEMENT CO. L.L.C., 1 WORLD TRADE CENTER, L.L.C., 2 WORLD TRADE CENTER, L.L.C., 4 WORLD TRADE CENTER, L.L.C., 5 WORLD TRADE CENTER, L.L.C., WESTFIELD WTC, L.L.C., WESTFIELD CORPORATION, INC., WESTFIELD AMERICA, INC., AND THE PORT AUTHORITY OF NEW YORK AND NEW JERSEY, DEFENDANTS-COUNTER-CLAIMANTS-APPELLANTS, UBS WARBURG REAL ESTATE INVESTMENTS INC., WELLS FARGO BANK MINNESOTA, N.A., AS TRUSTEE FOR THE REGISTERED HOLDERS OF GMAC COMMERCIAL MORTGAGE SECURITIES, INC. MORTGAGE-BACKED PASS-THROUGH CERTIFICATES, SERIES 2001-WTC, AND GMAC COMMERCIAL MORTGAGE CORPORATION, DEFENDANTS-COUNTER-CLAIMANTS v. THE TRAVELERS INDEMNITY COMPANY, COUNTER-DEFENDANT-APPELLEE, ALLIANZ INSURANCE COMPANY, COPENHAGEN REINSURANCE CO., EMPLOYERS INSURANCE OF WAUSAU, FEDERAL INSURANCE COMPANY, GREAT LAKES REINSURANCE (UK) PLC, GULF INSURANCE COMPANY, HARTFORD FIRE INSURANCE COMPANY, HOUSTON CASUALTY CO., INDUSTRIAL RISK INSURERS, LEXINGTON INSURANCE CO., CERTAIN UNDERWRITERS AT LLOYD'S OF LONDON, QBE INTERNATIONAL INSURANCE LIMITED, ROYAL INDEMNITY COMPANY, ST. PAUL FIRE & MARINE INSURANCE COMPANY, SWISS REINSURANCE CO. UK LTD., TIG INSURANCE CO., TOKIO MARINE AND FIRE INSURANCE CO., TWIN CITY FIRE INSURANCE CO., WÜRTTEMBERGISCHE VERSICHERUNG AG, AND ZURICH AMERICAN INSURANCE CO., COUNTER-DEFENDANTSCourt of Appeals for the Second Circuit · 2003
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