Capital Z Financial Services Fund II, L.P. v. Health Net, Inc.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Mazzarelli, J.E
Flaintiffs1 (Cap Z) are four limited partnerships which together invested 100 million dollars in the stock of nonparty Superior National Insurance Group (Superior). The investment was made to help fund Superior’s purchase of the Business Insurance Group, Inc. (BIG), a set of four California workers’ compensation insurers, from Foundation Health Corp., a predecessor in interest to defendant Health Net.2
During the preliminary discussions of the purchase in early 1998, plaintiffs became concerned that BIG’s “loss reserves” *102and “loss adjustment expense…
2Cases cited7 opinions
- Tooley v. Donaldson, Lufkin, & Jenrette, Inc.Supreme Court of Delaware · 2004
- Danann Realty Corp. v. HarrisNew York Court of Appeals · 1959
- Kronenberg v. KatzCourt of Chancery of Delaware · 2004
- Agostino v. HicksCourt of Chancery of Delaware · 2004
- Chamison v. HealthTrust, Inc.-Hosp. Co.Court of Chancery of Delaware · 1999
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3Cited by13 opinions
- Basis Yield Alpha Fund v. Goldman Sachs Group, Inc.Appellate Division of the Supreme Court of the State of New York · 2014
- MBIA Insurance v. LynchAppellate Division of the Supreme Court of the State of New York · 2011
- McBeth v. PorgesDistrict Court, S.D. New York · 2016
- Avnet, Inc. v. Deloitte Consulting LLPAppellate Division of the Supreme Court of the State of New York · 2020
- Millennium Falcon Corp. v. WRD Sales, Inc.Appellate Division of the Supreme Court of the State of New York · 2007
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