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DENCO v. GENESCO, INC.

75 A.D.2d 742 (1980)

Denco et al., Respondents-Appellants, v. Genesco, Inc., Appellant-Respondent, et al., Defendants

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

May 6, 1980

We are in agreement with the trial court's determination that defendant Genesco, Inc. (Genesco), failed to honor its contractual obligations to exchange debentures for stock and is thus liable to B and C shareholders. However, the trial court erred in creating subclasses among said series B and C shareholders. In the earlier motion for an order pursuant to CPLR 902, permitting the maintenance of this action as a class action, Special...

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