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STROUGO EX REL. THE BRAZIL FUND, INC. v. PADEGS

No. 96 Civ. 2136(RWS).

27 F.Supp.2d 442 (1998)

Robert STROUGO, on Behalf of THE BRAZIL FUND, INC., Plaintiff, v. Juris PADEGS, Nicholas Bratt, Edgar R. Fiedler, Roberto Teixeira Da Costa, Ronaldo A. Da Frota Nogueira, Wilson Nolen, Edmond D. Villani, and Scudder, Stevens & Clark, Inc., Defendants. and The Brazil Fund, Inc., Nominal Defendant. Robert Strougo, on behalf of himself and all others similarly situated, Plaintiff, v. Juris Padegs, Nicholas Bratt, Edgar R. Fiedler, Roberto Teixeira Da Costa, Ronaldo A. Da Frota Nogueira, Wilson Nolen, Edmond D. Villani, and Scudder, Stevens & Clark, Inc., Defendants.

United States District Court, S.D. New York.

November 18, 1998.

Attorney(s) appearing for the Case

Wechsler Harwood Halebian & Feffer by Joel C. Feffer, Jeffrey M. Haber, New York City, for plaintiff.

Simpson Thacher & Bartlett by Michael J. Chepiga, Chet A. Kronenberg, New York City, for nominal defendant The Brazil Fund Inc.

Debevoise & Plimpton by John S. Kiernan, Jeremy Feigelson, Edward V. Di Lello, New York City, for defendants Scudder, Stevens & Clark, Inc., Juris Padegs, Nicholas Bratt and Edmond D. Villani.

OPINION

SWEET, District Judge.

Nominal defendant The Brazil Fund, Inc. (the "Fund") has moved to dismiss the shareholder derivative complaint of Robert Strougo ("Strougo") under Rule 12(b)(6), Fed.R.Civ.P., or, in the alternative, for summary judgment pursuant to Rule 56, Fed. R.Civ.P, based upon the determination of a special litigation committee of its Board of Directors (the "SLC") that the continued

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