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VISTA CO. v. COLUMBIA PICTURES INDUSTRIES, INC.

No. 89 CIV 2813 (LBS).

725 F.Supp. 1286 (1989)

VISTA COMPANY, a New York Limited Partnership; Persky-Bright Associates, a New York Limited Partnership; Bright-Persky Associates, a New York Limited Partnership; Barclay Associates, a New York Limited Partnership, Reno Associates, a New York Limited Partnership; Claridge Associates, a New York Limited Partnership; Devon Company, a New York Limited Partnership, Lester Persky, an individual; and Richard S. Bright, an individual, Plaintiffs, v. COLUMBIA PICTURES INDUSTRIES, INC., a Delaware Corporation; Columbia Pictures Entertainment, Inc., a Delaware Corporation; and Does 1 through 100, inclusive, Defendants.

United States District Court, S.D. New York.

As Amended December 6, 1989.

Attorney(s) appearing for the Case

Kaye, Scholer, Fierman, Hays & Handler, New York City (Pierce O'Donnell, James E. Doroshow, Michael Malina, Peter A. Walker, Martha D. Lemer, Richard J. Halloran, of counsel), for plaintiffs.

Weil, Gotshal & Manges, New York City (James W. Quinn, Kenneth L. Steinthal, Karen E. Donald, Ann E. Dibble, Bruce S. Meyer, of counsel), for defendants.

SAND, District Judge.

This action arises from the acquisition and ownership of various films by plaintiffs, seven New York limited partnerships and two individuals, and the marketing and licensing of these films by defendants, Columbia Pictures Industries, Inc. and Columbia Pictures Entertainment, Inc. Defendants move to dismiss plaintiffs' claims for recovery of certain tax losses on the grounds of lack of standing, prematurity, and lack of causation; for summary...

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