McLEARN v. COWEN & CO.


64 A.D.2d 606 (1978)

Mildred A. McLearn, Respondent, v. Cowen & Co. et al., Defendants, and Merill Lynch, Pierce, Fenner & Smith Incorporated, Appellant

Appellate Division of the Supreme Court of the State of New York, Second Department.

July 3, 1978


Order reversed, on the law, without costs or disbursements, and motion granted.

The complaint should have been dismissed on the ground of res judicata. In the prior action in Federal court, plaintiff made the same allegations of breaches by appellant of its common-law fiduciary duties as she complains of in the instant action. Moreover, the motion should have been granted for failure to state a cause of action, notwithstanding the fact that appellant did not...

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