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REISS v. FIN PERFORMANCE CORP

97 N.Y.2d 195 (2001)

764 N.E.2d 958

738 N.Y.S.2d 658

MARVIN M. REISS et al., Appellants, v. FINANCIAL PERFORMANCE CORPORATION, Respondent.

Court of Appeals of the State of New York.

Decided December 18, 2001.

Attorney(s) appearing for the Case

Joseph M. Weitzman, New York City, and Howard L. Mann for appellants.

Kaufman Friedman Plotnicki & Grun, L. L. P., New York City (Howard Grun of counsel), for respondent.

Chief Judge KAYE and Judges LEVINE, CIPARICK, WESLEY, ROSENBLATT and GRAFFEO concur.

OPINION OF THE COURT

SMITH, J.

The issue here is whether warrants to purchase shares of stock of defendant corporation must be adjusted in light of a reverse stock split authorized by defendant corporation after plaintiffs received warrants. We answer that question in the negative.

Shortly after September 30, 1993, in partial repayment of a loan, defendant authorized the issuance of warrants enabling...

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