Vogen Funding, L.P. v. Wener

By Judge Clifford R. Weckstein

The “Executive Defendants,” ten individuals who were officers or directors of New River Industries, Inc., or who had ownership interests in New River, have demurred to Vogen Funding, L.P.’s amended complaint. The demurrers have been briefed and argued, a second round of briefing took place after the initial argument, and a hearing was held today at which counsel had the opportunity to present further argument. This letter memorializes the ruling announced at today’s hearing: The court finds that the amended complaint fails to state a claim upon which relief…