The Appellate Division of the New York State Supreme Court has upheld an earlier decision by the Supreme Court of New York to dismiss a lawsuit against the Diamond Dealers Club, which was initiated by David Abraham in February 2009.



The court's ruling agreed with the Supreme Court's finding in March 2010 that DDC members' voting rights could not be suspended without "reasonable notice," and that a notice sent to DDC members by the Club's late president, Jacob Banda, about a special meeting in December 2008, complied with DDC by-laws. Abraham was also ordered to pay court costs.



Abraham had petitioned the court to void a vote by DDC members in December 2008 to amend the Club's by-laws.



Dr. Martin Hochbaum, DDC managing director, said the organization welcomed the Appellate Court's decision and that the ruling confirmed that the Diamond Dealers Club operated in a transparent and aboveboard manner.

Diamond Dealers Club, established in 1931, is the voice of the American diamond industry and is the oldest and largest diamond-trading bourse in the US.