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MANDEL v. E.I. ELECTRONICS, INC.

41 A.D.3d 386 (2007)

839 N.Y.S.2d 68

MANDEL, RESNIK & KAISER, P.C., Respondent, v. E.I. ELECTRONICS, INC., Defendant and Third-Party Plaintiff-Appellant. MANDEL RESNIK, KAISER, MOSKOWITZ & GREENSTEIN, P.C., et al., Third-Party Defendants-Respondents.

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

Decided June 28, 2007.

Plaintiff was retained to represent defendant, a closely held manufacturer of electric meters, in a transaction in which defendant was to be acquired, in whole or in part, by General Electric (GE). The acquisition was structured in three stages: (1) an initial purchase of a 35% interest, (2) a call option exercisable by GE enabling it to purchase an additional 14% interest and (3) a put option exercisable by defendant requiring GE to purchase the remaining interest in the...

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