Federal Judge Throws Out Lawsuit Against Kramer Levin Client Terry Allen Kramer

On September 26, 2012, U.S. District Judge Colleen McMahon dismissed with prejudice a suit accusing prominent members of the Allen family of fraudulently transferring stakes in a family ranch in Arizona in order to protect a dying family member’s interest in the ranch from a creditor, Excelsior Capital.  The complaint named Herbert A. Allen, the CEO of the investment bank Allen & Company; Terry Allen Kramer, a well-known Broadway producer; and Terrence McCarthy, vice president and co-chief operating officer at Allen & Company.  In a 24-page decision, Judge McMahon ruled that the complaint failed to state a claim, calling its theories of relief “highly questionable” and “implausible.” 

Terry Allen Kramer was represented by Gary Naftalis, the co-chair of the firm and head of the firm’s Litigation Department, and associate Scott Ruskay-Kidd.