We’re having one of those days — computer problems, email troubles, etc. We never should have returned from vacation.
It’s a bad time for us to be so distracted, because there’s breaking news in the Aaron Charney and Sullivan & Cromwell litigation — two decisions from Justice Bernard Fried. A tipster sums them up:
FYI – Two written decisions were posted to the NY State Supreme Court Reporter website today. One is Charney v. S&C; the other is S&C v. Charney.
The first dismisses Charney’s suit, but with leave to replead. The second grants S&C a preliminary injunction, dismisses the first cause of action by S&C against Charney (breach of fiduciary duty), and directs Charney to answer the remaining causes of action.
Even though these opinions are hot off the presses, our fellow Charneybloggers are all over it. They score the rulings as, on balance, a win for Aaron Charney — and we are inclined to agree.
The indefatigable Professor Art Leonard has already produced a thorough and thoughtful analysis. He nicely summarizes the opinions and analyzes the implications for both sides. You can access his post by clicking here.
And Lavi Soloway — who, by the way, is now a father of two baby girls (congrats, Lavi!) — has also written up an impressive and detailed post. Check it out over here.
Charney Case Passes Hurdle; Sullivan Case Limping [Leonard Link]
Decisions Come Down in Charney Case [Soloway]
Charney v. Sullivan & Cromwell [New York Supreme Court]
Sullivan & Cromwell v. Charney [New York Supreme Court]