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GLOBAL MINS. v. HOLME

35 A.D.3d 93 (2006)

824 N.Y.S.2d 210

GLOBAL MINERALS AND METALS CORP., Appellant, v. JAMES W. HOLME et al., Respondents.

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

October 3, 2006.

Attorney(s) appearing for the Case

Arnold & Porter LLP, New York City (H. Peter Haveles, J. of counsel), for appellant.

Seidman & Seidman, P.C., New York City (Irving P. Seidman of counsel), for James W. Holme and another, respondents.

Graubard Miller, New York City (Steven Mallis and Edward H. Pomeranz of counsel), for Ana Maria Holme, respondent.

FRIEDMAN, J.P., NARDELLI and GONZALEZ, JJ., concur.

OPINION OF THE COURT

CATTERSON, J.

In this action, plaintiff Global Minerals and Metals Corp., a closely held corporation, alleges it was fraudulently induced by one of its four shareholders into signing a general release and severance agreement worth $15 million. For the reasons set forth below, we affirm the order of the motion court granting the defendants' motion for summary judgment and dismissing the complaint on the grounds that the plaintiff's reliance...

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