RAPAPORT... Press Release, NY Diamond Dealers Club: The New York Diamond Dealers Club (DDC) is pleased to announce that New York State Supreme Court Justice Michael D. Stallman dismissed the lawsuit initiated by David Abraham against the DDC. 

In reading all of Abraham’s papers, affidavits and briefs, Judge Stallman denied all motions from Abraham and dismissed the case.

“We are pleased at the New York State Supreme Court’s decision,” said DDC's managing director, Dr. Martin Hochbaum.  “The court’s decision affirms that the vote on our bylaws was conducted honorably and that there was no finding of wrongdoing by DDC or Jacob Banda.  We regret that  Banda is not here to share in the Supreme Court’s vindication of our position.”

DDC's president, Moshe Mosbacher, stated that “the membership is pleased at the judge’s decision and we look forward to continuing to demonstrating that the DDC, under its new leadership, is the leading voice of the industry.”

About the Diamond Dealers Club (DDC)
Established in 1931, the Diamond Dealers Club (DDC) is the voice of the American diamond industry and is the oldest and largest diamond-trading bourse in the U.S. A member of the World Federation of Diamond Bourses (WFDB), the DDC’s nearly 2,000 members come from across the U.S., Europe, Japan, India, South Africa and Israel. The DDC is headquartered in a 25,000-square-foot facility in the heart of the Diamond District in the World Diamond Tower located at 580 Fifth Avenue and 47th Street. To learn more about the DDC, please visit www.nyddc.com.

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