In re: BANK OF NEW YORK DERIVATIVE LITIGATION.
Mildred Kaliski and Edward J. Kaliski, Plaintiffs-Appellants,
Rita Hochenbaum and Rochelle Phillips, Plaintiffs,
Charles H. Beck, on Behalf of the Bank of New York Company, Inc. Consolidated-Plaintiff,
v.
J. Carter Bacot, Gerald L. Hassell, Deno D. Papageorge, Alan R. Griffith, Thomas A. Renyi, John A. Luke, Jr., William R. Chaney, William C. Richardson, Catherine Rein, Richard Barth and Donald L. Miller, Defendants-Appellees,
The Bank of New York Company, Inc. and The Bank of New York, Nominal-Defendants-Appellees,
Sergei Kotov and Vladimir Galitzine, Defendants-Appellees.
United States Court of Appeals, Second Circuit.https://leagle.com/images/logo.png
Argued: October 9, 2002.
Decided: February 12, 2003.
Attorney(s) appearing for the Case
Francis Karam, Milberg Weiss Bershad Hynes & Lerach LLP, New York, NY (Melvin I. Weiss, Richard H. Weiss, and Mark T. Millkey, Milberg Weiss Bershad Hynes & Lerach LLP, New York, NY; Karen L. Morris and Patrick F. Morris, Morris and Morris LLC, Wilmington, DE; Robert I. Harwood and Samuel Rosen, Wechsler Harwood Halebian & Feffer, LLP, New York, NY, on the brief), for Plaintiffs-Appellants and proposed Intervenor-Appellant, A. Norman Drucker.
Richard H. Klapper, Sullivan & Cromwell (John L. Warden, Bruce E. Clark, Marc De Leeuw, Todd G. Cosenza and Christina M. Frohock, Sullivan & Cromwell; Andrew M. Lawler and Sharon Feldman, Andrew M. Lawler, PC; Lawrence Byrne and Lance Croffoot-Suede, White & Case, on the brief), New York, NY, for Nominal Defendants-Appellees and Defendants-Appellees.
Andrew J. Levander and David S. Hoffner, Swidler Berlin Shereff Friedman, LLP, David E. Nachman, Solomon, Zauderer, Ellenhorn, Frischer & Sharp, Stephen E. Kaufman, Stephen E. Kaufman, P.C., for Defendant-Appellee J. Carter Bacot, Charles A. Stillman and James Mitchell, Stillman & Friedman, P.C., for Defendant-Appellee Deno D. Papageorge.
Before: OAKES and CABRANES, Circuit Judges, and PRESKA, District Judge.
United States Court of Appeals, Second Circuit.
JOSÉ A. CABRANES, Circuit Judge.
Plaintiff-Appellants Mildred and Edward Kaliski ("the Kaliskis") brought this shareholder derivative action in the United States District Court for the Southern District of New York (Denny Chin, Judge), alleging that certain officers and directors of the Bank of New York ("BONY") committed systematic wrongs when they sought to expand BONY's banking business in Russia in the early and mid-1990's. In particular, the Kaliskis...
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