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SOVEREIGN METAL CORP. v. CIRACO

210 A.D.2d 75 (1994)

621 N.Y.S.2d 296

Sovereign Metal Corporation et al., Respondents-Appellants, v. Richard M. Ciraco et al., Appellants-Respondents, and Ambase Corporation, Respondent

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

December 8, 1994

The determination by a prior Federal jury that plaintiffs knew of the subject securities purchase for two weeks before the securities were rendered worthless was "specifically resolved" on the merits in the Federal forum after a full and fair opportunity to litigate the issue (Browning Ave. Realty Corp. v Rubin, 207 A.D.2d 263, 267), and was "`actually determined in the prior proceeding'" (Lamontagne v Board of Trustees, ...

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