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CITY POLICE FUND v. ARISON

No. 656212/2019.

70 Misc.3d 234 (2020)

134 N.Y.S.3d 662

2020 NY Slip Op 20267

CITY OF AVENTURA POLICE OFFICERS' RETIREMENT FUND, Plaintiff, v. MICKY ARISON et al., Defendants.

Supreme Court, New York County.

Decided October 15, 2020.

Attorney(s) appearing for the Case

Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York City ( Audra J. Soloway and Christopher L. Filburn of counsel), Simpson Thacher & Bartlett LLP, New York City ( George Wang , of counsel), and Simpson Thacher & Bartlett LLP, Washington, DC ( Karen Porter of counsel), for defendants.

Robbins Geller Rudman & Dowd LLP, Melville ( Samuel H. Rudman and Mary K Blasy of counsel), Robbins Geller Rudman & Dowd LLP, San Diego, California ( Travis E. Downs III , Benny C. Goodman III and Erik W. Luedeke of counsel), Sugarman & Susskind, P.A., Coral Gables, Florida ( Pedro A. Herrera of counsel), and Robbins LLP, San Diego, California ( Brian J. Robbins and Ashley R. Rifkin of counsel), for plaintiff.

OPINION OF THE COURT

This case presents novel questions as to whether, and under what circumstances, the shareholders of an English company may bring a derivative action in a New York court.

Plaintiff holds American Depositary Shares (ADS) of Carnival plc, an English company. As an ADS holder, plaintiff holds...

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