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SUPREME COURT O F THE STATE OF NEW YORK
COUNTY OF NEW YORK 6 Plaintiff designates
SHELDON FRIEDMAN, 1 New York
(see attached rider) 1 County as t h e place
Plaintiffs, 1 of Trial
1 The basis of venue is:
-against- ) Defendants'residences
)
ARTHUR ANDERSEN & COMPANY, SUMMONS
, 1
' (see attached rider) 1
1
Defendants. 1 X
___l _----l -----l --l ------I--
TO THE ABOVE NAMED DEFENDANTS:
YOU ARE HEREBY SUMMONED to answer the complaint in this action and
to serve a copy of your answer, or, if the complaint is not served with
this summons, to serve a notice of appearance, on the Plaintiff's
Attorneys within 20 days after the service of this summons, exclusive of
the day of service (or within 3 0 days after t h e Service is complete if
this summons is not personally delivered to you within the State of New
York); and in case of your failure to appear or answer, judgment will be
taken against you by default for the relief demanded in the complaint.
Dated: New York, New York
August 6, 1990 BEIGEL & SANDLER, LTD.
a Professional Corporation
7 5 0 Lexington Avenue
30th Floor
N.Y., N.Y. 10022
(212) 826-1550
Attorneys for Plaintiffs
A r t h u r Andersen & Company
One Biscane Tower, Suite 2100
Miami, Florida 33131
Friedman & Shaftan, P.C.
4 Park Avenue
New York, New York 10016
Wilfred T. Friedman
4 Park Avenue
New York, New York 10016
Marcia Shaftan, as
executrix of the Estate of
Robert P. S h a f t a n
SNIPPETS:
SUPREME COURT O F THE STATE OF NEW YORK
___l _----l -----l --l ------I--TO THE ABOVE NAMED DEFENDANTS:
Friedman & Shaftan, P.C. 4 Park Avenue New York, New York 10016
Marcia Shaftan, as executrix of the Estate of Robert P. S h a f t a n
individually and derivatively on behalf of ARIZONA WORLD NURSERIES
The Private Placement Memorandum, including all exhibits thereto, is incorporated herein as
Plaintiffs, as limited partners, bring this claim individually and pursuant to New York
The general partners of AWNLP have participated in, acquiesced.in, authorized, approved and
The plaintiffs fairly and adequately represent the interests of the limited partners in
Plaintiffs are currently limited partners and were limited partners at the time of the
Defendant Ivan Faggen was, at a l l relevant times, a member and controlling person of
The defendants structured the sale of a nursery business, through an intermediary purchaser
B to the Private Placement Memorandum) and misleading financial projections, compilation
Faggen had extensive accounting expertise and experience in structuring " tax shelter"
The following Finesod promoted offerings, of which Friedman & Shaftan wrote the offering
the IRS denied tax benefits f o r each of those businesses.
Friedman & Shaftan had written the tax opinion letter as part of the offering memorandum for
banks which made fictitious loans in connection with these limited partnerships.
World Nurseries,had entered into an agreement with the Western Sellers, dated December 17,
Tyler was also a general partner of each of the Arizona Limited Partnerships identified,
Nurseries"), Great Western Nurseries, Ltd., Phoenix Sunbelt Nurseries, Ltd., Phoenix Sunbelt
controlling person of each other member of the Western Group within.
the projections, Exhibit F to the Private Placement Memorandum and the tax opinion letter,
The material Federal tax issues of the allowance of the deduction f o r the nursery stock in
In fact, Contrary to its representations, the accountant defendants, negligently Or
The nursery business, located in Maricopa County, Arizona, consisted of the cultivation and
Plaintiffs' claim that the W.I.S. Appraisal is not true and fair is based, in part, on the
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