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SANDERS v. GOLD KEY LEASE

UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK


November 20, 1995

STACY R. SANDERS, on behalf of herself and all others similarly situated, Plaintiff, against GOLD KEY LEASE, INC., CHRYSLER CREDIT CORP., CHRYSLER FINANCIAL CORP., and CORPORATE DOES, Defendants.

Deborah A. Batts, U.S.D.J.

The opinion of the court was delivered by: BATTS

MEMORANDUM & ORDER

DEBORAH A. BATTS, United States District Judge.

 Plaintiff, Stacy Sanders, leased a Chrysler Jeep through Gold Key Lease, Inc., ("Gold Key") a named Defendant. *fn1" As part of her leasing contract she paid a $ 475.00 refundable security deposit. Now, Plaintiff, on behalf of all those similarly situated, *fn2" claims that the Defendants were obligated to disclose, but failed to, in their lease agreements, that any interest earned on the refundable security deposit constituted a finance charge, in violation of 15 U.S.C. ยง 1600, et seq. and various state laws. Plaintiff also claims any profits generated from the refundable security deposit should be remitted to the Plaintiff and the class. Defendants now move to dismiss Plaintiff's claims under Fed. R. Civ. P. 12(b)(6) and 12(b)(1). In the middle of the briefing schedule of the instant motion, Plaintiff filed an Amended Complaint on January 27, 1995. Pursuant to this Court's Order in conference on February 24, 1995, the Court directed the Defendants' Reply Memoranda in Support of its Motion to Dismiss be responsive to the Amended Complaint. For the following reasons the Defendants' motion is granted.

 I. BACKGROUND The Plaintiff is Stacy R. Sanders. On March 31, 1994, Plaintiff entered into a lease agreement with an automobile dealer known as Grand Prix Performance, Ltd. (Am. Compl. P 21) for a 1994 Jeep Grand Cherokee Laredo (Defs.' Mem. Law at 4-5, Lease). Contemporaneously, the lease agreement was assigned to Gold Key. (Am. Compl. P 21). The lease required the Plaintiff to pay the following costs in advance: a capitalized cost reduction downpayment: $ 2,926.00 refundable security deposit 475.00 first monthly payment 460.45 title, license and registration fees 49.75 taxes 248.71

19951120

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