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CURBOW FAMILY LLC v. MORGAN STANLEY INVESTMENT ADVISORS

651059-2010.

36 Misc.3d 889 (2012)

950 N.Y.S.2d 845

2012 NY Slip Op 22197

CURBOW FAMILY LLC et al., Plaintiffs, v. MORGAN STANLEY INVESTMENT ADVISORS et al., Defendants, and INVESCO INSURED MUNICIPAL INCOME TRUST, Nominal Defendant. CLIFFORD T. ROTZ, JR., et al., Plaintiffs, v. VAN KAMPEN ASSET MANAGEMENT et al., Defendants, and INVESCO VAN KAMPEN ADVANTAGE et al., Nominal Defendants.

Supreme Court, New York County.

July 18, 2012.

Attorney(s) appearing for the Case

Bernstein Litowitz Berger & Grossman LLP, New York City ( Gerald H. Silk , Jai Chandrasekhar and Brett Van Benthysen of counsel), and Kessler Topaz Meltzer & Check, LLP, Radnor, Pennsylvania ( Eric L. Zagar , Kristen L. Ross and Lee D. Rudy of counsel), for plaintiffs in the first and second above-entitled actions. Stradley Ronon Stevens & Young, LLP, Philadelphia, Pennsylvania ( Ellen Rosen Rogoff and Keith R. Dutill of counsel), and Skadden Arps Slate Meagher & Flom LLP, New York City ( Lauren E. Aguiar , Charles F. Smith , Lee P. Garner and Jason T. Manning of counsel), for nominal defendant in the first above-entitled action. Paul, Weiss, Rifkind, Wharton & Garrison LLP, New York City ( Richard A. Rosen of counsel), for defendants in the first and second above-entitled actions. Skadden Arps Slate Meagher & Flom LLP, New York City ( Lauren E. Aguiar , Charles F. Smith , Lee P. Garner and Jason T. Manning of counsel), for nominal defendants in the second above-entitled action.

OPINION OF THE COURT

BERNARD FRIED, J.

In these two shareholder derivative actions, motions seeking dismissal of the complaint based on documentary evidence and for failure to state a cause of action under CPLR 3211 (a) (1) and (7), have been held in abeyance pending the resolution of plaintiffs' request for further discovery. Supplemental briefs on the discovery issue were filed, argument was held on February...

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