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SCALISI v. GRILLS

No. CV-04-5513 (TCP)(WDW).

501 F.Supp.2d 356 (2007)

April SCALISI as custodian for her minor children, and Scott McDonough, Plaintiffs, v. Joe GRILLS, Stephen B. Swensrud, Robert S. Salomon, Jr. and Fund Asset Management, L.P., et al., Defendants, v. Merrill Lynch Focus Twenty Fund, Inc., Nominal Defendant.

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

July 26, 2007.

Attorney(s) appearing for the Case

Daniella Quid, Joel Carl Feffer, Harwood Feffer LLP, Laurence D. Paskowitz, Paskowitz & Associates, Scott W. Fisher, Garwin, Gerstein & Fisher LLP, New York, NY, for Plaintiffs.

Mark Holland, Mary K. Dulka, Clifford Chance U.S. LLP, New York, NY, for Defendants.

MEMORANDUM and ORDER

PLATT, District Judge.

Nominal defendant Merrill Lynch Focus Twenty Fund, Inc. (the "Fund") moves to terminate this derivative action brought by the Fund's shareholders, asserting claims for violation of § 36(a) of the Investment Company Act of 1940 ("the 1940 Act")1 and common law claims for breach of fiduciary duty, negligence, gross negligence, and negligent...

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