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SCHER v. TURIN HOUS. DEV. FUND CO., INC.

Index No. 155267/18. Appeal No. 12857. Case No. 2019-5346.

190 A.D.3d 506 (2021)

135 N.Y.S.3d 820

2021 NY Slip Op 00134

Mark Scher, Appellant, v. Turin Housing Development Fund Company, Inc., et al., Respondents.

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

Decided January 12, 2021.

Attorney(s) appearing for the Case

Bierman & Associates, New York ( Mark H. Bierman of counsel), for appellant.

Catafago Fini LLP, New York ( Tom M. Fini of counsel), for respondents.

Concur—Acosta, P.J., Webber, González, Scarpulla, JJ.

The motion court properly determined that the claims in the amended complaint were derivative rather than direct, and plaintiff had failed to make a prelitigation demand or allege futility, warranting dismissal. Although plaintiff urges that his claims are direct because he will suffer from diminution in the value of the proprietary shares appurtenant to his apartment, claims premised on diminution of value of shares are derivative...

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