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EURYCLEIA v. SEWARD & KISSEL

12 N.Y.3d 553 (2009)

EURYCLEIA PARTNERS, LP, et al., Appellants, v. SEWARD & KISSEL, LLP, Respondent, et al., Defendants.

Court of Appeals of New York.

Decided June 4, 2009.

Attorney(s) appearing for the Case

Reed Smith LLP, New York City (Lance Gotthoffer, Gil Feder, Darren Pascarella and Casey D. Laffey of counsel), Bartlett, Pontiff, Stewart & Rhodes, P.C., Glens Falls (Richard J. Bartlett and Robert S. McMillen of counsel), for appellants.

Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York City (Gerard E. Harper, Jacqueline P. Rubin, Jana C. Ramsey and Jaren E. Casazza of counsel), for respondent.

Judges CIPARICK, READ, SMITH, PIGOTT and JONES concur; Chief Judge LIPPMAN taking no part.

OPINION OF THE COURT

GRAFFEO, J.

Following the collapse of a hedge fund, certain limited partners brought this action sounding in fraud and breach of fiduciary duty against the fund's attorneys based on the law firm's failure to disclose improper fund activities and its misrepresentations in the offering memoranda. For the reasons that follow, we affirm the Appellate Division order dismissing the complaint...

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