New York Court of Appeals
Irene Lichtyger
December 30, 196618 N.Y.2d 528
Summary
The New York Court of Appeals affirmed the Appellate Division, holding that the limited partners may pursue a class action for money damages under CPLR 1005(a) but are not entitled to equitable relief such as rescission of the lease and mortgage. The court found that money damages provide an adequate remedy and that rescission would improperly interfere with third‑party contractual relations. Concurring opinions noted that a derivative suit could address rescission and that the presence of satisfied partners precludes a class action. The order was affirmed without costs.