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DONALDSON SEC. CORP. v. STAR

148 Misc.2d 880 (1990)

Donaldson Lufkin & Jenrette Securities Corporation et al., Individually and as Comanagers of an Underwriting Syndicate Consisting of 80 Participating Underwriters, Plaintiffs, v. Star Technologies, Inc., Defendant.

Supreme Court, New York County.

October 12, 1990

Attorney(s) appearing for the Case

Davis, Polk & Wardwell for plaintiffs. Pollack & Kaminsky for defendant.

EDWARD H. LEHNER, J.

The issue on this motion by plaintiffs for summary judgment is whether a provision for indemnification of an underwriter by an issuer is enforceable.

FACTS

Donaldson Lufkin & Jenrette Securities Corporation and Shearson Lehman/American Express, Inc. (plaintiffs) entered into an underwriting agreement (the Agreement) in December 1984 as lead underwriters for the public...

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