HILLS STORES COMPANY v. SMITH BARNEY, INC

We agree with the motion court that the release given in settlement of the preproxy litigation embraces the instant claims and provides sufficient grounds for dismissal. In addition, another ground for dismissal is the failure to allege facts showing a causal relationship between defendant's untruthful advice and plaintiffs' damages, the fair import of the complaint being that the outgoing board members had all along determined to reject any offer regardless of defendant's advice.

Concur — Sullivan, J.P., Milonas, Ellerin, Tom and Mazzarelli, JJ.