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HILLS STORES CO. v. SMITH BARNEY, INC.

239 A.D.2d 275 (1997)

658 N.Y.S.2d 847

Hills Stores Company et al., Appellants, v. Smith Barney, Inc., Respondent

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

May 22, 1997

We agree with the motion court that the release given in settlement of the preproxy litigation embraces the instant claims and provides sufficient grounds for dismissal. In addition, another ground for dismissal is the failure to allege facts showing a causal relationship between defendant's untruthful advice and plaintiffs' damages, the fair import of the complaint being that the outgoing board members had all along determined...

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