ARMSTRONG v. SIMON & SCHUSTER


85 N.Y.2d 373 (1995)

649 N.E.2d 825

625 N.Y.S.2d 477

Michael F. Armstrong, Respondent, v. Simon & Schuster, Inc., et al., Appellants.

Court of Appeals of the State of New York.

Decided March 28, 1995.


Attorney(s) appearing for the Case

Simpson Thacher & Bartlett, New York City (Roy L. Reardon, Robert F. Cusumano and Edward Johnson of counsel), for appellants.

Lankler Siffert & Wohl, New York City (Roderick C. Lankler and David S. Jones of counsel), for respondent.

Weil, Gotshal & Manges, New York City (R. Bruce Rich, Linda Steinman and Elizabeth Stotland Weiswasser, of the Illinois Bar, admitted pro hac vice, of counsel), Kay Murray, Stuart D. Karle, Kenneth M. Vittor, Slade R. Metcalf, New York City, Tonda F. Rush, Jeffery R. Keeler, of the Virginia Bar, admitted pro hac vice, George Freeman, Leon Friedman, New York City, J. Laurent Scharff, of the District of Columbia Bar, admitted pro hac vice, and Connie Heymann, New York City, for Association of American Publishers, Inc., and others, amici curiae.

Judges SIMONS, TITONE, BELLACOSA, SMITH, LEVINE and CIPARICK concur.


Chief Judge KAYE.

This libel action arises out of the past decade of insider trading scandals and Wall Street intrigue, when the media was filled with reports of arbitrageur Ivan Boesky's stock schemes, investment banker Michael Milken's deployment of junk bonds in deals for Drexel Burnham Lambert, and "the country's most expensive, aggressive lawyers [who] maneuvered frantically on behalf of their powerful clients...

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