FLEETBOSTON FINANCIAL CORP. v. ALT

Civil Action No. 03-10597-EFH.

668 F.Supp.2d 277 (2009)

FLEETBOSTON FINANCIAL CORPORATION, et al., Plaintiffs v. Eric E. ALT, et al., Defendants.

United States District Court, D. Massachusetts.

December 1, 2009.


Attorney(s) appearing for the Case

Alicia L. Downey, Lisa E. Kirby, Laura K. Langley, S. Elaine McChesney, Bingham McCutchen LLP Boston, MA, for Plaintiffs.

Edward Foye, Kevin T. Peters, J. Owen Todd, Todd & Weld LLP, Boston, MA, Michael E. Grenert, James R. Hubbard, Jeffrey Liddle, Liddle & Robinson, L.L.P., New York, NY, James H. Rollinson, Baker & Hostetler LLP, Cleveland, OH, for Defendants.


MEMORANDUM AND ORDER

HARRINGTON, Senior District Judge.

Counterdefendants' Motion for Summary Judgment (Docket No. 154) is allowed. The counterplaintiffs have no cause of action for breach of fiduciary duty because they were not stockholders of the Robertson Stephens Group, Inc. It is axiomatic that there must be a fiduciary relationship for there to be a breach thereof.

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