DDC Election Again Upheld in Court

Three New York State Supreme Court Appellate Justices unanimously upheld an earlier Supreme Court decision to dismiss a lawsuit challenging the results of an election in the Diamond Dealers Club.

The suit was initiated in February 2009 by David Abraham, the club’s former vice president. Abraham had petitioned the court to void a vote by DDC members in December 2008 to amend the Club’s bylaws.

The Appellate Division of the Supreme Court ruled the earlier court was correct when it found in March 2010 that the earlier election, which was decided by three votes, complied with bourse bylaws. Abraham additionally was ordered to pay court costs.

“This has been an unfortunate and unnecessary episode that we hope can now be put behind us,” said Dr. Martin Hochbaum, DDC managing director, in a statement.