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STROUGO ON BEHALF OF BRAZIL FUND, INC. v. PADEGS

No. 96 CIV. 2136 (RWS).

1 F.Supp.2d 276 (1998)

Robert STROUGO, on Behalf of THE BRAZIL FUND, INC., Plaintiff, v. Juris PADEGS, Nicholas Bratt, Edgar R. Fiedler, Roberto Teixeira Da Costa, Ronaldo A. Da Frota Nogueira, Wilson Nolen, Edmond D. Villani, and Scudder, Stevens & Clark, Inc., Defendants, and The Brazil Fund, Inc., Nominal Defendant. Robert STROUGO, on behalf of himself and all others similarly situated, Plaintiff, v. Juris PADEGS, Nicholas Bratt, Edgar R. Fiedler, Roberto Teixeira Da Costa, Ronaldo A. Da Frota Nogueira, Wilson Nolen, Edmond D. Villani, and Scudder, Stevens & Clark, Inc., Defendants.

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

April 6, 1998.

Attorney(s) appearing for the Case

Wechsler Harwood Halebian & Feffer, New York City, for Robert Strougo; Joel C. Feffer, Jeffrey M. Haber, of counsel.

Simpson Thacher & Bartlett, New York City, for The Brazil Fund Inc.; Michael J. Chepiga, Chet A. Kronenberg, of counsel.

Debevoise & Plimpton, New York City, for Scudder, Stevens & Clark, Inc., Juris Padegs, Nicholas Bratt and Edmond D. Villani; John S. Kiernan, Jeremy Feigelson, Edward V. Di Lello, of counsel.

Ropes & Gray, Boston, MA, for Independent Directors of The Brazil Fund; John D. Donovan, Jr., Richard S. Weitzel, of counsel.

OPINION

SWEET, District Judge.

Nominal Defendant The Brazil Fund, Inc. (the "Fund") has moved to dismiss the shareholder derivative complaint of plaintiff Robert Strougo ("Strougo") under Rule 12(b)(6), Fed.R.Civ.P., or, in the alternative, for summary judgment pursuant to Rule 56, Fed. R.Civ.P., based upon the determination of a special litigation committee of its Board of Directors (the "SLC") that the...

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