Seward & Kissel Partner Bruce Paulsen and associate Jeff Dine are listed as counsel in The New York Law Journal’s Case of the Day for case Chan v. Zoullas.

January 30, 2012
New York Law Journal

Individual plaintiffs filed identical derivative actions in New York state court in respect of NASDAQ-listed shipping company, alleging breaches of fiduciary duty and contract against the company’s directors and officers. Plaintiffs sought to proceed independently of an earlier filed case in federal court that made substantially the same allegations, and defendants moved to stay the state court cases while the federal case was pending. The state court found that the allegations in the federal and state cases were substantially the same, that resolution of the federal case would determine all of the questions in the state court cases and that judicial economy therefore weighed in favor of a stay. The state court stayed the state cases until final determination of the federal case.


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