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Alfandary v. Nikko Asset Mgmt. Co. Ltd.

Finding Japanese Firm Was Subject to Personal Jurisdiction Denied Reconsideration

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OPINION AND ORDER Following Judge Sweet’s October 4, 2018 Opinion denying their motion to dismiss the Amended Complaint on the grounds of forum non conveniens and lack of personal jurisdiction (Opinion, dated Oct. 4, 2019 [dkt. no. 52]), Defendants Nikko Asset Management Co., Ltd. (“Nikko”), Takumi Shibata (“Shibata”), Sumitomo Mitsui Trust Bank, Limited (“SMTB”), and Sumitomo Mitsui Trust Holdings, Inc. (“SMTH”) (collectively, “Defendants”) moved for reconsideration. (Notice of Defendants’ Motion for Reconsideration of October 4, 2018 Opinion Denying Defendants’ Motion to Dismiss the Amended Complaint (“Motion for Reconsideration”), dated Oct. 18, 2018 [dkt. no. 55].)For the reasons set forth below, the Motion for Reconsideration [dkt. no. 55] is denied.I. BACKGROUNDAs familiarity with the factual background and procedural history of this case is assumed, only a short summary containing the relevant information will be provided.Plaintiffs Timothy McCarthy, Frederick Reidenbach, Bill Wilder, and Gregory Atkinson (collectively, the “Nikko Plaintiffs”) were all senior executives of Nikko. (Amended Complaint (“Am. Compl.”), dated Sep. 20, 2017 [dkt. no. 19],

13-16.) Plaintiffs Christina Alfandary, Laurie Vicari (“Vicari”), and Jeffrey Hansen (collectively, the “NAMA Plaintiffs”) were senior executives of Nikko Asset Management of America, Inc. (“NAMA”) in New York, a wholly owned subsidiary of Nikko. (Id.

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