Jennifer Convertibles Board Wants $5M Bad Faith Suit Axed

Law360, New York (February 3, 2012, 9:42 PM EST) -- Board members and officers of once-bankrupt Jennifer Convertibles Inc. asked a New York federal court Thursday to throw out a $5 million lawsuit accusing them of sketchy business transactions, saying that they're shielded from liability because their business decisions were sound.

Ex-Jennifer Convertibles CEO Harley Greenfield, former Executive Vice President and board member Edward Seidner, President Rami Abada and several other defendants filed motions to dismiss the complaint, which was filed in bankruptcy court in November and then removed to district court in January.

The suit...
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