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CITY TRADING FUND v. NYE

651668/2014.

2015 NY Slip Op 50008(U)

CITY TRADING FUND, LAWRENCE BASS and ANDRES CARULLO AS ALL OF THE PARTNERS OF CITY TRADING FUND, A GENERAL PARTNERSHIP, SUING ON BEHALF OF THEMSELVES and ALL OTHERS SIMILARLY SITUATED, Plaintiffs, v. C. HOWARD NYE, STEPHEN P. ZELNAK, JR., SUE W. COLE, DAVID G. MAFFUCCI, WILLIAM E. McDONALD, FRANK H. MENAKER, JR., LAREE E. PEREZ, MICHAEL J. QUILLEN, DENNIS L. REDIKER, RICHARD A. VINROOT, MARTIN MARIETTA MATERIALS, INC., and TEXAS INDUSTRIES, INC., Defendants.

Supreme Court, New York County.

Decided January 7, 2015.

Attorney(s) appearing for the Case

The Brualdi Law Firm, P.C., for plaintiffs.

Cravath, Swaine & Moore LLP and Wachtell, Lipton, Rosen & Katz, for defendants.

SHIRLEY WERNER KORNREICH, J.

In this putative class action, plaintiffs City Trading Fund (CTF), Lawrence Bass, and Andres Carullo move for preliminary approval of the parties' settlement and preliminary certification of the class. Defendants do not oppose the motion. However, for the reasons that follow, plaintiffs' motion is denied.

Procedural History

On May 30, 2014, CTF commenced this action by filing a complaint asserting two causes of...

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