GREEN v. FUND ASSET MANAGEMENT, L.P.

No. C.A. No 97-3502(DRD).

147 F.Supp.2d 318 (2001)

Jack GREEN, Individually and as Trustee, Lawrence P. Belden, Trustee, and Stanley Simon, Trustee, Plaintiffs, v. FUND ASSET MANAGEMENT, L.P., Merrill Lynch Asset Management, L.P., Merrill Lynch & Co., Inc., Merrill Lynch, Pierce, Fenner & Smith Inc., Princeton Services, Inc., Arthur Zeikel, Terry K. Glenn, Munienhanced Fund, Inc., Munivest Fund II, Inc., Muniyield Fund, Inc., Muniyield Insured Fund, Inc., Muniyield Insured Fund Ii, Inc., Muniyield Quality Fund, Inc., and Muniyield Quality Fund II, Inc., Defendants.

United States District Court, D. New Jersey.

June 5, 2001.


Attorney(s) appearing for the Case

Bruce I. Goldstein, Saiber, Schlesinger, Satz & Goldstein, Newark, NJ, Laurence M. Johnson, Kirsten Nelson Callahan, Brenda Buan, Mahoney, Hawkes & Goldings, Robert E. Sullivan, Beverly Gudanowski, Sullivan Weinstein & McQuay, P.C., Boston, MA, for Plaintiffs.

Paul A. Rowe, Alan S. Naar, Greenbaum, Rowe, Smith, Ravin, Davis & Himmel LLP, Woodbridge, NJ, James N. Benedict, Mark Holland, Sean M. Murphy, Mary K. Dulka, Clifford Chance Rogers & Wells LLP, New York City, for Defendants Fund Asset Management, L.P., Merrill Lynch Asset Management, L.P., Merrill Lynch & Co., Inc, Merrill Lynch, Pierce, Fenner & Smith Inc., Princeton Services, Inc., Arthur Zeikel, and Terry K. Glenn.

Robert J. Del Tufo, Frank E. Derby, Skadden, Arps, Slate, Meagher & Flom LLP, Newark, NJ, for Defendants MuniEnhanced Fund, Inc., MuniVest Fund II, Inc., MuniYield Fund, Inc., MuniYield Insured Fund, Inc., MuniYield Insured Fund II, Inc., MuniYield Quality Fund, Inc., and MuniYield Quality Fund II, Inc.


OPINION

DEBEVOISE, Senior District Judge.

This matter is before the court on defendants' motions for summary judgment and on plaintiffs' cross-motion for partial summary judgment on liability. For the reasons that follow, the plaintiffs' cross-motion shall be denied, the defendants' motions for summary judgment shall be granted, and the case shall be dismissed.

FACTUAL BACKGROUND AND PROCEDURAL HISTORY

Plaintiffs commenced...

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