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JOHNSON v. SOCIETE GENERALE S.A.

Nos. 6166, 111162/08.

94 A.D.3d 663 (2012)

943 N.Y.S.2d 74

2012 NY Slip Op 3268

KEN JOHNSON et al., Respondents, v. SOCIETE GENERALE S.A., Appellant.

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

Decided April 26, 2012.

Plaintiffs were entitled to payment of notes and warrants, purchased from Societe Generale Acceptance N.V. (Acceptance), if the value of certain underlying investment funds at maturity was higher than the funds value at inception. Defendant Societe Generale S.A. (SGSA) provided a guarantee for the punctual payment of any amounts due plaintiffs from Acceptance.

In August 2008, plaintiffs filed a complaint against SGSA and others alleging that the investments had been...

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