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CANTOR FITZGERALD v CAMPBELL Click to find out why . . .



Keywords & Phrases
CaseNo: C.A. No. 17,595, CourtCode: CC, CourtName: IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE, Plaintiff: CANTOR FITZGERALD, State: DE Delaware, UniqueCaseRef: DE>CC>00017595, Limited Partnership, Counterclaimants, Cantor Fitzgerald, Lutnick, Partnership, Agreement, Paragraph, Cfi, Allegations, Deny, Group Management, Employees, High Distribution, Investment, Hendrick, Employment, High Distribution Units, Campbell, Admit, General Partner, Purchase, Amended Agreement, Termination, Cantor, Liberty, Accounts, Breaches, Amount, Howard Lutnick, Affiliates, Sole Shareholder, Obligations, Responses, Representations, Counterclaimants Repeat, Damages, Duty, Loyalty, Refer , ContentID: 120240610

Case Documents
1 2000-01-31 REPLY TO COUNTERCLAIMS
[ see first page and extracted highlights below  ] ItemID: 101593
13 pages
PDF
2 1999-12-28 DEFENDANTS ANSWER AND COUNTERCLAIMS AGAINST CANTOR FITZGERALD H. LUTNICK AND CANTOR FITZGERALD GROUP MANAGEMENT
[ see first page and extracted highlights below  ] ItemID: 101594
34 pages
PDF
3 1999-11-19 COMPLAINT
[ see first page and extracted highlights below  ] ItemID: 101595
13 pages
PDF
Total Documents: 3 documents , 60 pages
Price: $ 29.95


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1 . REPLY TO COUNTERCLAIMS

EXTRACTED KEY WORDS
ALLEGATIONS
DENY
PARTNERSHIP
ADMIT
CANTOR
COUNTERCLAIMANTS
EMPLOYEES
AGREEMENT
CANTOR FITZGERALD
RESPONSES
LUTNICK
REFER
RESPONSES SET
LOANS
MANAGEMENT
SOLE GENERAL PARTNER
INVESTMENT
REPEAT
GENERAL PARTNER
PURCHASE
CFI
NAT WEST
PARAGRAPHS L-69
DISTRIBUTION UNITS
COURT
GOVERNMENT BOND
HDII UNITS
PROSPECTIVE PARTNERS
PAYMENTS
             IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
                                                                                                  
                         IN AND FOR NEW CASTLE COUNTY


CANTOR FITZGERALD, L.P.,
a Delaware limited partnership


                               Plaintiff,


       V.                                            ;       C.A. No. 11595          :,
                                                                     c  '            :'  -1
GORDON CAMPBELL, IAN HENDRICK,                       1                               :  _
                                                                                    -  _
and PHILlP HULSTON, individually                                                     c>
                                                                                   I  _  _*
                                                     1
                               Defendants.
       V.

CANTOR FITZGERALD, L.P.,
HOWARD LUTNICK, and
CANTOR FITZGERALD GROUP
MANAGEMENT,

                               Counterclaim-         i
                               Defendants.           >


                            REPLY TO COUNTERCLAIMS

                 Counterclaim Defendants Cantor Fitzgerald, L.P. (the "Partnership"),

Howard Lutnick ("Lutnick"), Cantor Fitzgerald Group Management ("Management"), by

their undersigned attorneys, hereby reply to the counterclaims asserted by defendants as

follows:

                 1.     Deny the allegations of paragraph 52, except admit that

Management is the sole general partner of the Partnership, and that Lutnick is its sole

shareholder.

                 2.     Deny the allegations of paragraph 53.

SNIPPETS:
  • CANTOR FITZGERALD, L.P.,
  • Howard Lutnick, Cantor Fitzgerald Group Management, by
  • Deny the allegations of paragraph 52, except admit that
  • Management is the sole general partner of the Partnership, and that Lutnick is its sole
  • Deny the allegations of paragraph 53.
  • Counterclaimants were employed by Cantor Fitzgerald International ("CFI"),
  • Court of Appeal held that, after the defendants in action CA.
  • taken steps to divert to a competitor the whole of CFI's Belgian Government Bond
  • all purchased I-Iigh Distribution Units and later converted them to "HDII" Units,
  • certain employees were invited to become partners.
  • letters to certain Cantor employees inviting them to join the Partnership, and refer to the
  • Westminster Bank ("Nat West") extended loans to certain employees to finance their
  • Partnership entered into an agreement with Reuters,
  • Lutnick met with partners and prospective partners to discuss the purchase of Partnership
  • to make an initial investment in the Partnership or increase their existing investment.
  • "HDII Units" under the Amended Partnership Agreement,
  • and that the partners agreed that payments due the Partnership could be
  • Repeat the responses set forth in paragraphs l-69 herein.

  • 2 . DEFENDANTS ANSWER AND COUNTERCLAIMS AGAINST CANTOR FITZGERALD H. LUTNICK AND CANTOR FITZGERALD GROUP MANAGEMENT

    EXTRACTED KEY WORDS
    COUNTERCLAIMANTS
    LUTNICK
    CANTOR FITZGERALD
    DEFENDANTS
    CFI
    GROUP MANAGEMENT
    HIGH DISTRIBUTION
    AGREEMENT
    INVESTMENT
    EMPLOYEES
    HIGH DISTRIBUTION UNITS
    HENDRICK
    CAMPBELL
    AMENDED AGREEMENT
    GENERAL PARTNER
    PURCHASE
    PLAINTIFFS
    EMPLOYMENT
    HOWARD LUTNICK
    SOLE SHAREHOLDER
    REPRESENTATIONS
    COUNTERCLAIMANTS REPEAT
    FACTUAL ALLEGATIONS
    MERELY SETS
    INCORPORATE
    CAPITAL CONTRIBUTION
    AFFILIATES
    TERMINATION
    MISREPRESENTATIONS
    
              IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
                              IN AND FOR NEW CASTLE COUNTY
    
    CANTOR FITZGERALD L.P.,
    
                                 Plaintiff,
    
                  v.
    
    GORDON CAMPBELL, IAN HENDRICK,                    :      C.A. No. 17595       -.,,_:  3  ..'       !
                                                                                   ,        `/.
    and PHILIP HULSTON,                                                            . -'               
                                                                                   .,          : L
                                                                                             \  `-j
                             Defendants and
                           Counterclaim Plaintiffs, :
    
    
                  V.
    
    CANTOR FITZGERALD, L.P.,
    HOWARD LUTNICK, and
    CANTOR FITZGERALD GROUP
    MANAGEMENT,
    
                          Counterclaim Defendants. :
    
    
                 DEFENDANTS' ANSWER AND COUNTERCLAIMS AGAINST
                   CANTOR FITZGERALD, L.P., HOWARD LUTNICK, AND
                        CANTOR FITZGERALD GROUP MANAGEMENT
    
    
           Defendants Gordon Campbell ("Campbell"), Ian Hendrick ("Hendrick"), and Philip
    
    Hulston  ("Hulston")  (collectively "Defendants" or "Counterclaimants") hereby answer the
    
    complaint of Cantor Fitzgerald, L.P. (the "Limited Partnership") and counterclaim against the
    
    Limited Partnership, Howard Lutnick ("Lutnick"), and Cantor Fitzgerald Group Management
    
    ("C.F. Group Management") (the latter three of which sometimes collectively are referred to
    
    herein as "Counterdefendants") as follows:
    
    
    
                                                 ANSWER
    
    
    SNIPPETS:
  • CANTOR FITZGERALD L.P.,
  • Counterclaim Defendants.
  • CANTOR FITZGERALD, L.P., HOWARD LUTNICK, AND
  • Defendants Gordon Campbell, Ian Hendrick, and Philip
  • Limited Partnership, Howard Lutnick, and Cantor Fitzgerald Group Management
  • employed Defendants, that the Limited Partnership controls CFI, and that Liberty Brokerage
  • Investment Corp. is a Delaware corporation.
  • the truth of the allegations of paragraph 5, except it is admitted that the Agreement of
  • Kingdom, that he commenced employment with CFI during or about October 1987, that he
  • The first sentence of Paragraph 11 contains no factual allegations but merely sets
  • defendant executed an Amended Agreement and purchased interests in the Limited Partnership.
  • Effect of Termination of Emdovment
  • The plaintiffs claims based on contract fail for lack of consideration,
  • misrepresentations and omissions in connection with the purchase of limited partnership
  • of Cantor Fitzgerald Limited Partnership by its general partner,
  • sole shareholder of the general partner,
  • employees of affiliates of the Limited Partnership.
  • as the individual who ultimately controlled Counterclaimants'
  • used his position to solicit and induce Counterclaimants and others to purchase
  • representations, upon termination of their employment with CFI the Limited Partnership refused
  • partnership interests were referred to as "High Distribution" and "High Distribution II
  • Distribution Units, less tax, for a total of $125,000 of High Distribution Units.
  • Base Amount (the capital contribution), it is unlikely that investors, such as
  • Counterclaimants repeat, reallege and incorporate by reference, paragraphs 1

  • 3 . COMPLAINT

    EXTRACTED KEY WORDS
    DEFENDANTS
    AGREEMENT
    CANTOR FITZGERALD
    EMPLOYMENT
    TERMINATION
    LIBERTY
    ACCOUNTS
    BREACHES
    AMOUNT
    PLAINTIFF
    OBLIGATIONS
    CAMPBELL
    DAMAGES
    DUTY
    LOYALTY
    HENDRICK
    HULSTON
    BROKERAGE
    HDII ACCOUNT
    CONTRACTS
    ENTITLEMENT
    PURSUANT
    DELAWARE
    GOVERNMENT
    LIMITED PARTNERSHIP
    AFFILIATES
    GERMAN
    JUDGEMENT
    AWARDING PLAINTIFF
    
                          IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
    
                             IN AND FOR NEW CASTLE COUNTY
    
    
    CANTOR FITZGERALD, L.P.,
    a Delaware limited partnership
    
    
                                   Plaintiff,
    
                                                           >
           V.                                              >       C.A. No.
                                                           >
    GORDON CAMPBELL, IAN HENDRICK,                         >
    and PHILIP HULSTON, individually                       >>
                                   Defendants.             >
    
    
    
                                           COMPLAINT
    
                                       Nature of The Action
    
                    1.      Plaintiff Cantor Fitzgerald, L.P. (the "Partnership") brings this
    
    action for damages and declaratory relief against defendants Gordon Campbell, Ian
    
    Hendrick and Philip Hulston, all former partners, who have caused injury to the
    
    Partnership's business by their breaches of their duty of loyalty to the Partnership and by
    
    their tortious interference with contractual relationships between the Partnership and its
    
    employees. In addition, the Partnerhsip seeks damages against defendant Hendrick, who
    
    has breached the Partnership Agreement by failing to repay his obligations to the
    
    Partnership upon his termination as a partner.
    
                    2.      Prior to their termination as partners, defendants performed tasks
    
    for the benefit of the Partnership and other entities owned, controlled by or under
    
    common control with the Partnership including Cantor Fitzgerald International, their
    
    WP3:431290.1                                                                           52832.1001
    
    
    
    SNIPPETS:
  • IN THE COURT OF CHANCERY OF THE STATE OF DELAWARE
  • Plaintiff Cantor Fitzgerald, L.P. (the "Partnership") brings this
  • action for damages and declaratory relief against defendants Gordon Campbell,
  • Hendrick and Philip Hulston, all former partners, who have caused injury to the
  • Partnership's business by their breaches of their duty of loyalty to the Partnership and by
  • Partnership upon his termination as a partner.
  • the Partnership and its affiliates (including
  • obligations under the Partnership Agreement and conspired with each other and Liberty
  • Fitzgerald's London based German government securities brokerage business to Liberty.
  • long-term employment contracts and commence employment with Liberty.
  • Plaintiff is a Delaware limited partnership which filed its certificate
  • This Court has jurisdiction over the defendants pursuant to
  • Partners CaDital and HDII Units and Accounts
  • Under the terms of the Agreement defendants' HDII Account
  • Base Amount, as calculated pursuant to Section 11.03 of the Agreement, but is not
  • Partner's entitlement to receive payments with respect to the HDII Units is reduced by
  • (Declaratory Judgment -- against Campbell and H&ton)
  • On its first and third causes of action, awarding plaintiff damages in an
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