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E.F. HUTTON INTERNATIONAL ASSOCIATES LIMITED v. SHEARSON LEHMAN BROTHERS HOLDINGS, INC.

281 A.D.2d 362 (2001)

723 N.Y.S.2d 161

E.F. HUTTON INTERNATIONAL ASSOCIATES LIMITED et al., Appellants, v. SHEARSON LEHMAN BROTHERS HOLDINGS, INC., et al., Respondents.

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

Decided March 29, 2001.

The IAS court correctly held that Shearson's interference with plaintiffs' service agreements with E.F. Hutton & Co. was justified by the economic interest that Shearson acquired in Hutton as a result of their merger agreement. Contrary to plaintiffs' claim, a strict ownership interest was not required (see, e.g., Ultramar Energy v Chase Manhattan Bank, 179 A.D.2d 592), and there was considerably more here than a mere offer to...

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