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VA MGT., LP v. ESTATE OF VALVANI

Index No. 654490/19. Appeal No. 13438. Case No. 2020-03536.

192 A.D.3d 615 (2021)

2021 NY Slip Op 01878

VA Management, LP, Plaintiff-Appellant, v. Estate of Sanjay Valvani, Defendant-Respondent.

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

Decided March 25, 2021.

Attorney(s) appearing for the Case

Susman Godfrey L.L.P., New York ( Mark H. Hatch-Miller of counsel), for appellant.

Sher Tremonte LLP, New York ( Michael Tremonte of counsel), for respondent.

Concur—Manzanet-Daniels, J.P., Kern, Moulton, Shulman, JJ.

Supreme Court properly dismissed the breach of fiduciary duty claim as barred by the three-year statute of limitations (CPLR 214[4]). In seeking recovery of compensation that plaintiff paid its employee, decedent Sanjay Valvani, during the time he allegedly engaged in an insider trading scheme, plaintiff seeks purely monetary relief, not equitable relief for which an award of monetary damages would not be adequate. Plaintiff's characterization of that relief as "disgorgement...

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