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KAZAKHSTAN INVESTMENT FUND LIMITED v. MANOLOVICI

306 A.D.2d 36 (2003)

759 N.Y.S.2d 671

KAZAKHSTAN INVESTMENT FUND LIMITED, Appellant, v. GERARD MANOLOVICI, Respondent.

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

Decided June 5, 2003.

The IAS court properly dismissed plaintiff's complaint seeking damages against a former disinterested director of plaintiff for breach of fiduciary duty and negligence in overseeing plaintiff's investment manager who allegedly caused plaintiff to lose millions of dollars as a result of three disastrous investments made in 1997. Plaintiff's claims are untimely since the acts complained of occurred more than three years prior to commencement of this lawsuit (see Matter of...

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