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APPLETON ACQUISITION, LLC v. THE NATIONAL HOUSING PARTNERSHIP

34 A.D.3d 339 (2006)

826 N.Y.S.2d 7

APPLETON ACQUISITION, LLC, et al., Respondents, v. THE NATIONAL HOUSING PARTNERSHIP et al., Appellants.

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

Decided November 21, 2006.

Plaintiffs are former limited partners or successors in interest to limited partners of Beautiful Village Associates Redevelopment Company (Beautiful Village), a New York limited partnership formed in 1978. Defendant National Housing Partnership (NHP) was the general partner and a subsidiary of defendant AIMCO Properties.

In 2002, NHP sent a proxy statement to plaintiff limited partners. The proxy statement proposed a merger and offered

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