Deutsche Bank Securities, Inc., Respondent v. Montana Board of Investments, Appellant

Summary

The New York Court of Appeals affirmed the Appellate Division's judgment, holding that Montana Board of Investments is subject to New York personal jurisdiction, that New York may not defer to Montana's statutory venue restrictions, and that summary judgment on liability was proper because MBOI offered no evidentiary support for its insider‑trading defense. Justice Read dissented in part, arguing that MBOI should be permitted additional discovery.