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KAPLAN v. LADENBURG THALMANN & CO., INC.

8762, 656188/16.

170 A.D.3d 556 (2019)

94 N.Y.S.3d 843

2019 NY Slip Op 02164

Howard J. Kaplan et al., Appellants, v. Ladenburg Thalmann & Co., Inc., et al., Respondents, et al., Defendant. Stanley S. Arkin et al., Intervenors-Respondents.

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

Decided March 21, 2019.

The complaint fails to state a cause of action. Plaintiffs do not identify any provision in the lease that was breached by their former landlord, defendant Ladenburg Thalmann & Co., Inc. (see Transit Funding Assoc., LLC v Capital One Equip. Fin. Corp., 149 A.D.3d 23 [1st Dept 2017]). Nor does the draw-down on the letter of credit—the method by which the lease provided for the rent to be collected—constitute a fraudulent...

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