Opinion · Appellate Division of the Supreme Court of the State of New York
Four Aces Jewelry Corp. v. Smith
Four Aces Jewelry Corp. v. Smith, 256 A.D.2d 42 (Appellate Division of the Supreme Court of the State of New York 1998)
- Type
- Opinion
- Court
- Appellate Division of the Supreme Court of the State of New York
- Jurisdiction
- New York
- Date
- 1998-12-03
- Topic
- capital-markets-and-corporate-governance
How later courts describe this case
- holding that a variance that existed between two different valuations of the same inventory was sufficient to establish an inference of fraud
- applying New York's standard of showing "overriding necessity" to discover corporate tax returns
Citator
UpLaw has not yet analyzed Four Aces Jewelry Corp. v. Smith. The absence of a flag is not a finding that it is good law.
- Cited by
- 7 opinions
—Order, Supreme Court, New York County (Lorraine Miller, J.), entered January 8, 1998, which, insofar as appealed from, denied defendants’ motion to renew their prior motion to compel production of plaintiffs 1993 and 1994 corporate income tax returns, reversed, on the law, without costs, the motion granted and plaintiffs directed to produce their 1993 and 1994 corporate income tax returns.
While tax returns are not discoverable absent a showing of overriding necessity (Matthews Indus. Piping Co. v Mobil Oil Corp., 114 AD2d 772), here, defendants have made the requisite showing. That there was a substantial variance be