Nemazee v. Premier Purchasing Partners

Judgment, Supreme Court, New York County (Helen E. Freedman, J.), entered September 29, 2004, which, upon the prior grant of defendants’ motions pursuant to CPLR 3211, dismissed the complaint, unanimously affirmed, with costs.

In this action, governed by Delaware law, plaintiff alleges that defendants breached their fiduciary duties as controlling shareholders to effect a wrongful merger between Medibuy, Inc., a Delaware corporation, and Global Health Exchange, Inc., which merger resulted in the cancellation of plaintiffs shares of Medibuy common stock for no consideration. The IAS court…