 |
 |
|
|
|
|
|
|
|
| | | |
|
|
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1
.
DEF MEM IN SUP OF MTD
|
EXTRACTED KEY WORDS
GEORGIA ACTION DEFENDANT MCGRAW-HILL DISMISSING PENDING RESOLUTION COUNTY ERNST MEMORANDUM SUPPORT MOTION STAYING COURT ARCILIO CANTOR LAW NEARLY IDENTICAL ACTION EXCHANGE ACT YORK SUCCESSOR-IN-INTEREST STANDARD ORDER PURSUANT CIV DISTRICT COBB COUNTY AFFIDAVIT DANIEL KOLB PLAINTIFFS SUMMONS COMPLAINT |
SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF NEW YORK
- - - - - - - - - - - I - - - - -
- X
-
RENALDO ARCILIO; ISADORE LEVY; and :
ANTHONY V. MONTALTO,
Plaintiffs, INDEX NO.
V.
PAUL G . S . CANTOR; ADAM H. ZIMMERMAN;
MICHAEL J. WHITE; BORDEN D. ROSIAK; :
WILLIAM L. ALLISON; ERNST & YOUNG;
A.M. BEST CO.; DUFF & PHELPS CREDIT :
RATING CO.; and McGRAW-HILL, INC.
(SUCCESSOR-IN-INTEREST TO STANDARD & :
POOR'S CORPORATION),
Defendants.
- - - - - - - - - - - - - - - - - - -X
DEFENDANT MCGRAW-HILL, INC.'S MEMORANDUM OF LAW IN
SUPPORT OF ITS MOTION TO DISMISS OR STAY THIS ACTION
Defendant McGraw-Hill, Inc., successor-in-interest
to Standard & Poor's Corporation, respectfully submits this
memorandum in support of its motion: (1) f o r an order
pursuant to S 3211(a)(4) dismissing this action or staying
it pending resolution of Arcilio, et al. v. Cantor, et al.,
Civ. Action 94-CV-2731-ODE, a nearly identical action
pending in the United States District Court f o r the Northern
District of Georgia (the IfGeorgia Actionll) , and Arcilio. et
& v. Cantor, et al., Civ. Action No. 94A-6076-4, another
nearly identical action pending in the State Court of Cobb
County, State of Georgia (the I'Cobb County Action") ; or (2)
in the alternative, for an order pursuant to CPLR § 2201
staying this action pending resolution of the Georgia Action
and the Cobb County Action.
ARGUMENT
Defendant McGraw-Hill , Inc. ( 88McGraw-Hil188) ,
hereby respectfully adopts the arguments made by defendant
Ernst & Young in its Memorandum of Law in Support of its
Motion for an Order Dismissing o r Staying this Action, dated
March 28, 1995, and the accompanying Affidavit of Daniel F.
SNIPPETS:
|
|
2
.
DEF E&Y MEM FOR MTD
|
EXTRACTED KEY WORDS
ERNST DISMISSING STAYING COUNTY RENALDO ARCILIO ISADORE LEVY ANTHONY MONTALTO PAUL CANTOR ADAM ZIMMERMAN MICHAEL ROSIAK WILLIAM ALLISON DUFF PHELPS CREDIT RATING STANDARD DEFENDANT ERNST MEMORANDJ LAW SUPPORT MOTION SUMMARY JUDGMENT PURSUANT CPLR GROUND SET |
SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF NEW YORK
- - - - - _ - - - - - - - - - - - - - - x
RENALDO ARCILIO; ISADORE LEVY; and
ANTHONY V. MONTALTO,
Index No. 129710/94
PAUL G.S. CANTOR; ADAM H. ZIMMERMAN;
MICHAEL J, WHITE; BORDEN D. ROSIAK;
WILLIAM L. ALLISON; ERNST & YOUNG;
A.M. BEST CO.; DUFF & PHELPS CREDIT
RATING CO.; and STANDARD & POOR'S
CORPORATION, 995
Defendants. MbY ` 0` ,..FF\CE
,
;..,,,! .:.,.
` 3 ~ ~ ~
- - - - - - - - - - - - - - - - - - - - x r` :j
I,'
, .
i\,'.l.
- i
1 >- ;,,, I y < y - ,
w \: U
DEFENDANT ERNST & YOUNG'S MEMORANDJ" OF LAW IN
SUPPORT OF ITS MOTION FOR AN ORDER
DISMISSING OR STAYING THIS ACTION
DAVIS POLK & WARDWELL
Daniel F. Kolb
Jerome G. Snider
Kenneth M. Bernstein
450 Lexington Avenue
New York, New York 10017
Tel: (212) 450-4000
Attorneys f o r Defendant
Ernst & Young, Chartered
Accountants
SNIPPETS:
|
|
3
.
ANSWER OF DEFENDANTS
|
EXTRACTED KEY WORDS
PLAINTIFFS INSURANCE DEFENDANTS DENY CLIAC PARAGRAPH CANTOR ZIMMERMAN ROSIAK DEFENDANTS ADMIT LIFE INSURANCE INSURANCE COMPANY CLIAC SOLD YORK ADAM MICHAEL WILLIAM ALLISON CONFEDERATION LIFE INSURANCE ANNUITY BUSINESS GUARANTEED INVESTMENT CONTRACTS PURCHASERS INSURANCE PRODUCTS FIDUCIARY DUTIES ASSETS FUTURE BUSINESS PROSPECTS ABILITY MEMBER ALLEGATIONS |
SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF NEW YORK
- x /?
RENALDO ARCILIO (a/k/a "REYNALDO .:
0. ARCILLAII) ; ISADORE LEVY;
and ANTHONY V. MONTALTO,
Plaintiffs,
-against-
PAUL G.S. CANTOR; ADAM H.
ZIMMERMAN; MICHAEL J. WHITE;
BORDEN D. ROSIAK; WILLIAM A.
ALLISON; ERNST & YOUNG;
A.M. BEST CO.; DUFF & PHELPS
CREDIT RATING CO.; and STANDARD &
POOR'S CORPORATION,
Defendants.
ANSWER OF DEFENDANTS CANTOR,
ZIMMERMAN, WHITE, ROSIAK AND ALLIBON
Defendants Paul G . S . Cantor, Adam H. Zimmerman,
Michael J. White, Borden D. Rosiak and William A. Allison
(collectively "these defendantstt), subject to and without
waiving their objections to personal jurisdiction and
venue, respond to plaintiffs' complaint as follows:
1. With respect to Paragraph l(a), these defendants
admit that Confederation Life Insurance Company (tlCLICtl) is
a Canadian mutual l i f e insurance company. These defendants
.admit that Confederation Life Insurance and Annuity Company
(ttCLIAC1l) is a Georgia corporation engaged in the insurance
business. These defendants admit that CLIAC is a wholly-
owned subsidiary of CLIC. These defendants show that,
during the period May 27, 1993 through August 11, 1994,
both CLIC and CLIAC sold certain life insurance policies,
annuities, and guaranteed investment contracts to certain
purchasers. These defendants deny that either CLIC or
CLIAC sold guaranteed investment contracts or securities to
any of the plaintiffs. These defendants deny that class
action treatment of plaintiffs' claims is appropriate.
2 , With respect to Paragraph l ( b ) , these defendants
deny making statements which were materially false or
misleading, either intentionally or negligently, concerning
the insurance products sold by CLIC or CLIAC, the financial
condition of CLIC or CLIAC, the value of assets, future
business prospects, or ability to continue as a going
SNIPPETS:
|
|
4
.
DEF E&YS ANS TO COMPLAIN
|
EXTRACTED KEY WORDS
COMPLAINT CONFEDERATION ADMITS DENIES PARAGRAPH CONFEDERATION LIFE INSURANCE YORK CONFEDERATION LIFE INFORMATION SUFFICIENT DENIES KNOWLEDGE TRUTH STANDARD LAW SEPARATE DEFENSE PARTIES REFERS ALLEGATIONS DENIES SUBSECTION LIFE INSURANCE COMPANY SUBSIDIARIES PUTATIVE CLASS MEMBERS CLASS PERIOD REFERENCE PLAINTIFFS PURPORT CONNECTION HEREINAFTER AFFILIATES RELEVANT TIME DEFENDANT RESPONDING |
SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF NEW YORK
- - - - - I - - - - - - - - - - - -
RENALDO ARCILIO; ISADORE LEVY; and :
ANTHONY V. MONTALTO,
Plaintiffs,
.
- against -
PAUL G . S . CANTOR; ADAM H. ZIMMERMAN;
MICHAEL J. WHITE; BORDEN D. ROSIAK; : ERNST & YOUNG, CHARTERED
WILLIAM L. ALLISON; ERNST & YOUNG;
A.M. BEST CO.; DUFF & PHELPS CREDIT : CLASS
RATING CO.; and STANDARD & POOR'S
POOR'S CORPORATION,
Defendants.
- - - - - - - - - - - - - -
Defendant Ernst & Young,
partnership governed by the laws of the Province'''%& Ontario,
Canada (IIE&Y@@),
by its undersigned counsel, for its answer to
plaintiffs' complaint:
1. Denies subsection (a) of paragraph 1, except
admits that plaintiffs purport to state class action claims in
connection with certain persons' purchases of various insuranace
products from Confederation Life Insurance Company (hereinafter
@@Confederation
(as the name is defined in plaintiffs'
Complaint)"), Confederation Life Insurance and Annuity Company
(hereinafter "Confederation Life (as the name is defined in
plaintiffs' Complaint)t@) and certain other unspecified
subsidiaries and affiliates of Confederation (as the name is
c
SNIPPETS:
|
|
5
.
ANSWER OF AM BESY CO
|
EXTRACTED KEY WORDS
COMPLAINT ALLEGATIONS PARAGRAPH TRUTH ADMITS INSURANCE CONFEDERATION LIFE YORK CLASS ACTION CONFEDERATION GROUP PAUL CANTOR ADAM ZIMMERMAN MICHAEL ROSIAK WILLIAM ALLISON ERNST DEFENDANTS PLAINTIFFS DENIES CLASS ACTION RELIEF SUBSIDIARIES INFORMATION SUFFICIENT REPORTS TIMES PAUL ACCOUNTING FIRM PUBLISHED OPINIONS |
e - .... .
ORIGINAL
SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF NEW YORK
RENALDO ARCILIO;
ISADORE LEVY; and
ANTHONY V. MONTALTO, ANSWER OF A.M. BEST CO.
Plaintiffs, Index No. 12971 0194
A
V
PAUL G. S. CANTOR;
ADAM H. ZIMMERMAN;
MICHAEL J. WHITE;
BORDEN D. ROSIAK;
WILLIAM L. ALLISON;
ERNST & YOUNG;
A.M. BEST CO.;
DUFF & PHELPS CREDIT RATING CO.; and ><
STANDARD & POOR'S CORPORATION,
Defendants.
Defendant A.M. Best Company ("Best"), by their attorneys Stein,
Frischer & Sharp, and Lowenstein, Sandler, Kohl, Fisher & Boylan, as and for an Answer to
Plaintiffs' Class Action Complaint ("complaint") herein, respectfully alleges as follows:
IN ANSWER TO PLAINTIFFS' INTRODUCTION ALLEGATIONS
Best responds to the individually numbered paragraphs of the
follows:
l(a) Best denies that the Complaint properly states any claim for
relief andor that class action relief is appropriate under CPLR $901. Best admits that
Confederation Life Insurance ("Confederation") is a Canadian insurance company and
03/27/950064046.01
L 6 d e * e d
SNIPPETS:
|
|
6
.
CLASS ACTION COMPLAINT
|
EXTRACTED KEY WORDS
INSURANCE CONFEDERATION LIFE INSURANCE YORK PLAINTIFFS COURT INSURANCE POLICIES ANNUITIES SUBSIDIARIES NEGLIGENT BUSINESS BREACHES FIDUCIARY DUTIES ACTS CPLR SECURITIES ASSETS FUTURE BUSINESS PROSPECTS ABILITY MOREOVER INDIVIDUAL DEFENDANTS MEMBERS LHE CLASS FRAUDULENT REDRESS DAMAGES PERSONAL JURISDICTION VENUE TRANSACTIONS |
SUPREME COURT OF THE STATE OF NEW YORK
COUNTY OF NEW YORK
- against -
PAUL G.S. CANTOR; ADAM H. ZLMMERMAN: :
MICHAEL J. WHITE; BORDEN D. ROSIAK; ' , : CLASS ACTION COMPLAINT
WILLIAM L. ALLISON; ERNST & YOUNG:
A.M. BEST CO. ; DUFF & PHELPS CREDIT :
RATING CO.; and STANDARD & POOR : . m R Y TRIAL DElYIANDED
CORPORATION,
and belief based, inter alia, upon the investigation made by
plaintiffs by and through their attorneys, except for the
allegations relating to plaintiffs and their counsel, which are
alleged upon knowledge, as follows:
INTRODUCTION
L. (a) This is a class action brought on behalf of
all persons and entities, other than defendants, who purchased,
renewed or otherwise paid for, in whole or in part, life
insurance policies (except for term insurance policies),
annuities or guaranteed investment contracts ("GICs")
(hereinafter collectively referred to as from or
issued by Confederation Life Insurance Company (IConfederation"),
f
SNIPPETS:
|
|
|
| | | |
|
|
