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DESERT EQUITIES v. MORGAN STANLEY LEVERAGED

624 A.2d 1199 (1993)

DESERT EQUITIES, INC., Plaintiff Below, Appellant, v. MORGAN STANLEY LEVERAGED EQUITY FUND, II, L.P.; Morgan Stanley Leveraged Equity Fund, II, Inc.; and Morgan Stanley Group, Inc., Defendants Below, Appellee.

Supreme Court of Delaware.

Decided: June 1, 1993.

Attorney(s) appearing for the Case

Joanne Zack, pro hac vice (argued), and Harold E. Kohn, of counsel, of Kohn, Nast & Graf, Philadelphia; Elwood S. Kendrick, of counsel, Los Angeles, CA; and Joseph A. Rosenthal of Rosenthal, Monhait, Gross & Goddess, Wilmington, for appellant.

A. Gilchrist Sparks, III (argued), and David G. Thunhorst of Morris, Nichols, Arsht & Tunnell, Wilmington; and Lewis A. Kaplan, Allan J. Arffa and John N. Gevertz of Paul, Weiss, Rifkind, Wharton & Garrison, New York City, for appellees.

Before HORSEY, WALSH and HOLLAND, JJ.

HORSEY, Justice:

The underlying issue of this appeal is whether plaintiff has pled a claim for relief sufficient to preclude dismissal of the complaint on the pleadings. The action involves a dispute between a limited partner plaintiff and a general partner defendant over their respective rights under a partnership agreement. The Court of Chancery found that plaintiff's allegations were conclusory and insufficient as a matter...

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