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NORWOOD VENTURE CORP. v. CONVERSE INC.

No. 96 Civil 3713(HB).

959 F.Supp. 205 (1997)

NORWOOD VENTURE CORP., Plaintiff, v. CONVERSE INCORPORATED, Apollo Investment Fund, L.P., Appollo Capital Management Inc., as General Partner of Apollo Advisors, L.P., Lion Advisors, L.P., Lion Capital Management Inc., as General Partner of Lion Advisors, L.P., Gilbert Ford, Michael C. Bell, Donald J. Camacho, Leon D. Black, Michael S. Gross, Joshua J. Harris, and Jack A. Green, Defendants.

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

April 3, 1997.

Attorney(s) appearing for the Case

Jean Reed Haynes, Bonnie J. Host, Jonathan F. Putnam, Dani R. James, Kirkland & Ellis, New York City, for Plaintiff.

Bruce S. Kaplan, Eric Seiler, Robert J. Lack, Ellen Bresler, Robert S. Loigman, Friedman & Kaplan, L.L.P., New York City, for Defendants.

OPINION AND ORDER

BAER, District Judge.

Plaintiff brought this cause of action against defendants after a business deal between the two soured. Defendants now move to dismiss plaintiff's claims. Defendants' motion is granted; while plaintiff sufficiently pleads scienter, it failed to adequately plead loss causation. Supplemental jurisdiction is declined and plaintiff's state law claims are also dismissed.

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