FUNDAMENTAL v. TOCQUEVILLE


7 N.Y.3d 96 (2006)

850 N.E.2d 653

817 N.Y.S.2d 606

FUNDAMENTAL PORTFOLIO ADVISORS, INC., et al., Appellants, v. TOCQUEVILLE ASSET MANAGEMENT, L.P., et al., Respondents.

Court of Appeals of New York.

Decided June 6, 2006.


Attorney(s) appearing for the Case

Folkenflik & McGerity, New York City (Max Folkenflik of counsel), for appellants.

Seward & Kissel LLP, New York City (Mark J. Hyland and Charles M. Miller of counsel), for respondents.

Chief Judge KAYE and Judges G.B. SMITH, CIPARICK, ROSENBLATT, READ and R.S. SMITH concur.


OPINION OF THE COURT

GRAFFEO, J.

In furtherance of a proposed transfer of advisory responsibility over a group of mutual funds from plaintiffs to defendants in return for monetary compensation, the parties executed an agreement that precluded defendants from soliciting or engaging in business with the funds if the deal was not consummated. The primary issues before us in this breach of contract action are whether...

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