In Stevens v. Kirk (171 A.D.2d 587, 567 N.Y.S.2d 453 [1st Dept 1991]), the First Department held that the trial court had improperly dismissed state common law-claims as collaterally estopped where a federal court had dismissed those claims for lack of pendent jurisdiction. The federal court held that the plaintiff who was not a shareholder lacked standing under federal securities laws, and dismissed the state law claims for lack of federal subject matter jurisdiction, without ever reaching the question of whether plaintiffs would have otherwise had standing to purse those common-law claims in state court.