CPC INTL. v. McKESSON CORP


70 N.Y.2d 268 (1987)

CPC International Inc., Appellant, v. McKesson Corporation et al., Defendants, and Morgan Stanley & Co., Inc., et al., Respondents.

Court of Appeals of the State of New York.

Decided September 15, 1987.


Attorney(s) appearing for the Case

Stephen Rackow Kaye, Claire P. Gutekunst, Mary C. Mone and William S. Wells for appellant.

Moses Silverman, Arthur L. Liman, Stuart Robinowitz, Abby L. Jennis and Jeffrey J. Wild for McKesson Corporation and others, defendants.

Lewis B. Kaden, Lisa A. Huestis and Timothy J. Mayopoulos for Morgan Stanley & Co., Incorporated, respondent.

Opinion by Judge HANCOCK, JR. Chief Judge WACHTLER and Judges SIMONS, ALEXANDER, TITONE and BELLACOSA concur; Judges SIMONS and HANCOCK, JR., dissenting in part and voting to further modify by reinstating the cause of action alleging violations of section 352-c of the Martin Act for reasons incorporated in part "I" of the opinion; Judge KAYE taking no part.


HANCOCK, JR., J.

This action arises from defendant McKesson's sale of the stock of its wholly owned subsidiary, C.F. Mueller Corporation, a leading producer of pasta, to plaintiff CPC International. Plaintiff has sued McKesson Corporation,1 Morgan Stanley, McKesson's investment advisor, and individual defendants Blattman, Merrick and Brounstein, former Mueller and McKesson employees...

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