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EDELMAN v. STARWOOD CAPITAL

1157.

70 A.D.3d 246 (2009)

892 N.Y.S.2d 37

ASHER B. EDELMAN et al., Appellants, v. STARWOOD CAPITAL GROUP, LLC, et al., Respondents.

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

Decided December 15, 2009.

Attorney(s) appearing for the Case

Meier Franzino & Scher, LLP, New York City (Frank J. Franzino, Jr. and Davida S. Scher of counsel), for appellants.

Dechert LLP, New York City (Steven B. Feirson of the State of Pennsylvania bar admitted pro hac vice, Michael J. Gilbert and James S. Buino of counsel), for Starwood Capital Group, LLC and others, respondents.

Cahill Gordon & Reindel LLP, New York City (Andrea R. Butler, Charles A. Gilman and Ilana Ehrlich of counsel), for Starwood Hotels & Resorts Worldwide, Inc., respondent.

SAXE, J.P., NARDELLI, BUCKLEY and ACOSTA, JJ., concur.

OPINION OF THE COURT

FREEDMAN, J.

This action arises from the unsuccessful attempt in 1999 by plaintiff Asher B. Edelman, an investor and financier, to acquire the French company Société du Louvre (SDL), whose primary assets included hotel chains, real estate, and luxury goods businesses. Edelman avers that he conducted extensive research to identify SDL as a company whose restructuring would benefit...

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