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November 22, 2024
Motion To Amend Largely Denied For Failure To Cure Deficiencies
On October 16, 2024, Justice Meilssa A. Crane denied a plaintiff’s motion to amend in substantial part, in a case brought by companies affiliated with the rapper 50 Cent seeking to recover for alleged misconduct by various Jim Beam liquor companies, their affiliates, or persons alleged to have participated in misconduct with them. The case is Sire Spirits, LLC v. Beam Suntory, Inc., Index No. 650799/2024. Read More
October 21, 2024
Summary Judgment Denied To Plaintiffs, Granted In Part To One Defendant, In Action On Alleged Loan
On August 27, 2024, Justice Andrew Borrok denied summary judgment to plaintiffs and granted it in part to one defendant in an action to collect on an alleged $9 million loan. The case is Elie Tahari v. Shelly Narkis, Index No. 650671/2021. Read More
May 20, 2024
Court Denies Motion To Dismiss Fraudulent Transfer Claim
On April 19, 2024, Justice Joel M. Cohen denied a motion to dismiss plaintiff’s claim for fraudulent transfer. The plaintiff in Monex Canada, Inc. v. Bank of America, N.A. et al., Index No. 655076/2023, alleged that a non-party had defrauded it out of millions of dollars by unlawfully reversing Pre-Authorized Debit (“PAD”) transfers, which funds were in turn ultimately directed to the moving defendants. Plaintiff asserted a claim for fraud under the New York Uniform Voidable Transactions Act and in particular Sections 273(a)(1) and 276 of the New York Debtor Creditor Law. The Court rejected the moving defendants’ argument that plaintiff had failed to state a claim for actual fraudulent transfer, explaining: Read More
December 20, 2023
Motion for Leave to Amend Denied Where Proposed Third Amended Complaint Fails to Correct Defects of Prior Complaints
On October 30, 2023, Justice Andrew Borrok, of the New York County Commercial Division issued a decision in Kirschenbaum v De Baets, Index No. 653287/2019, 2023 NY Slip Op 33880(U), denying Plaintiff’s motion for leave to amend to file a third amended complaint where the proposed amendments were palpably insufficient and proposed claims that failed as a matter of law. The Court explained: Read More
July 31, 2023
Court Grants Attachment Where Defendant Foreign Corporation Sent Funds Abroad
On June 15, 2023, Justice Andrew Borrok of the New York County Commercial Division issued a decision in Altium Growth Fund, L.P. v. Tingo Group, Inc., 2023 N.Y. Misc. LEXIS 2999. The Court granted Plaintiffs’ motion for an attachment pursuant to CPLR 6201(1), attaching shares in the Defendant Company. The Court found that Plaintiffs had shown a likelihood of success on the merits, and further found that grounds for an attachment pursuant to CPLR 6201 exists, explaining: Read More
June 27, 2023
Negligent-Misrepresentation Claim Dismissed For Failure to Plead Special or Privity-Like Relationship
On June 6, 2023, Justice Robert R. Reed of the New York County Commercial Division issued a decision in dMY Sponsor, LLC v. Glatt, 2023 NY Slip Op 50547(U), dismissing a negligent-misrepresentation counterclaim on the ground that allegations that the parties had known each other for decades and that the counterclaim defendant was a trusted friend of the counterclaim plaintiff's father were insufficient to give rise to a "special or privity-like relationship imposing a duty on the [counterclaim] defendant to impart correct information to the [counterclaim] plaintiff," explaining: Read More
April 21, 2023
Projections and Estimates Contained in Investment Memorandum Not Basis for Claim of Fraud or Misrepresentation
In a Decision and Order, dated March 13, 2023, in Cimen v. HQ Capital Real Estate L.P., Index No. 656205/2020, Justice Joel M. Cohen of the New York County Commercial Division dismissed plaintiffs’ amended complaint asserting, among other things, fraud and negligent misrepresentation based on projections and estimates in an investment memorandum because plaintiffs failed to adequately allege that the projections were based on actionable factual misrepresentations or that they did not reflect defendants’ views with the requisite particularity. The Court explained: Read More
December 12, 2022
Merger and No-Additional-Representations Clause Bars Claim for Fraudulent Inducement
On November 29, 2022, Justice Barry Ostrager of the New York County Commercial Division issued a decision in Eastern Effects v. 3911 Lemmon Ave. Assoc., 2022 N.Y.L.J. LEXIS 2408, dismissing a fraudulent inducement claim on the ground that it was barred by a merger and no-additional-representations clause, explaining: Read More
July 22, 2022
Fraud Claim Dismissed as Duplicative of Breach of Contract Claim
In a Decision and Order dated May 5, 2022, in Coulter v. Sorenson, 2022 NY Slip. Op. 31480(U), Justice Barry R. Ostrager granted defendants’ motion to dismiss plaintiff’s fraud claim as duplicative of plaintiff’s surviving breach of contract claim. Read More
March 21, 2022
Information about Law Firm's Other Clients Irrelevant to Plaintiffs' Claim that Firm Fraudulently Induced Them into Bogus Tax Shelter Scheme
In a Decision and Order dated February 4, 2022, in Berman v. Holland & Knight, Index No. 652466/2015, Justice Cohen denied plaintiffs' motion to compel its former attorneys from identifying clients who were advised about the same tax shelter strategy as were plaintiffs. Plaintiffs alleged that Holland & Knight lured them and other clients into investing millions of dollars in a bogus tax shelter scheme by giving them knowingly false legal advice in opinion letters. Denying the motion, the Court found that the privileged information that was sought was not relevant to their fraud claim: Read More
February 25, 2022
Lack of Due Diligence and Awareness of Risks Irrelevant Where Claim is for Fraudulent Inducement
On January 5, 2022, Justice Masley of the New York County Commercial Division issued a decision in BRL Hampton Rd. LLC v. Heather, 2022 NY Slip Op 30039(U), granting plaintiff summary judgment even though it failed to conduct due diligence, was aware of the risks with a startup and was the one who had the idea to lend $1 million to defendant to get the construction project moving. The Court explained: Read More
February 23, 2022
Plaintiff Cannot Claim Fraud Despite Concealment Where Party’s Action Was Consistent with SLA
On January 27, 2022, Justice Borrok of the New York County Commercial Division issued a decision in HOV Servs., Inc. v ASG Tech. Group, Inc., 2022 NY Slip Op 30299(U), granting defendant’s motion to dismiss claims for fraudulent inducement and violation of GBL § 349 and denying plaintiff’s affirmative defense of fraud where plaintiff alleged, among other things, that defendant concealed its belief that plaintiff was in violation of the Overlapping Customer Restriction: Read More
December 1, 2021
Former Minority Shareholders Barred from Suing Where They Unknowingly Signed Release on the Eve of Profitable Asset Sale
On October 5, 2021, the First Department issued a decision in Silver Point Capital Fund, L.P. v. Riviera Resources, Inc., 2021 NY Slip Op 05312, unanimously affirming Justice Borrok’s decision granting defendant’s motion to dismiss the amended complaint. The Court rejected the claim of former minority shareholders of defendant that defendant fraudulently induced them to sell it all of their shares in the corporation just three weeks before it announced an asset sale of its most valuable properties, after which sale prices soared and defendant made a substantial distribution to shareholders. Read More
July 4, 2021
Negligent Misrepresentation Claim Fails for Failure Adequately to Allege Special Relationship
On July 1, 2021, Justice Platkin of the Albany County Commercial Division issued a decision in Berks… Read More
June 22, 2021
Allegations the Release Was Procured by Fraud Fail When the Alleged Fraud is the Fraud That is the Subject of the Release
On June 2, 2021, Justice Ostrager of the New York County Commercial Division issued a decision in Ch… Read More
June 7, 2021
Allegations of Plaintiff's Due Diligence Sufficient to Establish its Reasonable Reliance Necessary to State Fraud Claim
On May 27, 2021, the First Department issued a decision in Bullen v. CohnReznick, LLP, 2021 NY Slip … Read More
May 26, 2021
Fraudulent Inducement Claim Survives Despite Defendant's Argument That Plaintiff Failed to Exercise Due Diligence
On May 25, 2021, the First Department issued a decision in VXI Lux Holdco, S.A.R.L. v. SIC Holdings,… Read More
May 23, 2021
Fraud Claim Cannot be Based on Misrepresentations of an Intention to Perform a Contract
On May 13, 2021, the First Department issued a decision in 320 W. 115 Realty LLC v. All Bldg. Constr… Read More
May 5, 2021
Misrepresentations Causing Investor Not to Sell a Security (Holder Claims) Not Actionable Under New York Law
On April 22, 2021, the First Department issued a decision in Feinberg v. Marathon Patent Group Inc.,… Read More
February 24, 2021
Conclusory Allegations Insufficient Basis for Judiciary Law 487 Claim
On February 10, 2021, the Second Department issued a decision in Cordell Marble Falls, LLC v. Kelly,… Read More
February 20, 2021
State AG Can Bring Breach of Contract Claim Against Investment Advisor Under Parens Patriae
On February 4, 2021, Justice Ostrager of the New York County Commercial Division issued a decision i… Read More
January 28, 2021
Fraud Claim Fails for Lack of Justifiable Reliance
On January 19, 2021, the First Department issued a decision in United Natural Foods, Inc. v. Goldman… Read More
January 26, 2021
Non-Consumer Can Bring GBL 349 Claim if Public at Large Has Been Harmed
On January 19, 2021, the First Department issued a decision in KS Trade LLC v. International Gemolog… Read More
December 25, 2020
Fraud Claims Dismissed for Failure to Perform Due Diligence
On December 15, 2020, the First Department issued a decision in MBF Clearing Corp. v. JPMorgan Chase… Read More
December 24, 2020
Fraud Claim Time-Barred Because Plaintiff Was on Inquiry Notice More Than Two Years Before Suit Filed
On December 8, 2020, Justice Friedman of the New York County Commercial Division issued a decision i… Read More
December 14, 2020
Plaintiff Adequately Alleged Aid and Abetting Fraud Where Defendant Allegedly Devised Scheme That Was Used to Deceive Plaintiff
On December 1, 2020, the First Department issued a decision in Bankers Conseco Life Ins. Co. v. KPMG… Read More
December 5, 2020
Questions Regarding Application of Special Facts Doctrine Preclude Summary Judgment
On November 24, 2020, the First Department issued a decision in Sports Tech. Applications, Inc. v. M… Read More
November 22, 2020
Fraud Claim Based on Omissions Fails in Light of Disclosure that Not All Material Information Was Being Disclosed for Securities Law Reasons
On November 5, 2020, Justice Borrok of the New York County Commercial Division issued a decision in … Read More
November 10, 2020
Conclusory Allegations Doom Fraud Claim
On October 16, 2020, Justice Borrok of the New York County Commercial Division issued a decision in … Read More
September 11, 2020
Breach of Contract and Fraud Claims Cannot Co-Exist if They Are Based on the Same Underlying Facts
On August 24, 2020, Justice Masley issued a Commercial Division decision addressing when a fraud cla… Read More
September 7, 2020
Fraud Claim Dismissed as Duplicative of Contract Claim
On August 24, 2020, Justice Masley of the New York County Commercial Division issued a decision in 5… Read More
August 24, 2020
Fraudulent Inducement Claim Cannot Be Based on Alleged Lack of Intention to Perform a Contract
On August 19, 2020, the Second Department issued a decision in Cypress Med. Surgical Servs., LLC v J… Read More
July 20, 2020
Court Upholds Fraud Claim Based on Damages Resulting From Selling at a Fraudulently-Induced Deflated Price
On June 29, 2020, Justice Masley of the New York County Commercial Division issued a decision in Com… Read More
July 5, 2020
Fraud Claim Cannot be Based on Lost Profits
On June 25, 2020, the First Department issued a decision in Arena Riparian LLC v. CSDS Aircraft Sale… Read More
June 8, 2020
Fraudulent Inducement Claim Survives as Not Duplicative of Breach of Contract Claim
On May 4, 2020, Justice Cohen of the New York County Commercial Division issued a decision in SRS Ca… Read More
June 5, 2020
GBL 349 Claim Fails for Lack of Consumer Impact
On May 8, 2020, Justice Cohen of the New York County Commercial Division issued a decision in Time W… Read More
June 4, 2020
Puffery Not Actionable Under Securities Laws
On May 15, 2020, Justice Ostrager of the New York County Commercial Division issued a decision in Ma… Read More
May 28, 2020
Providing Legal Advice to Person Accused of Fraud Insufficient to Support Aiding and Abetting Claim
On April 23, 2020, Justice Cohen of the New York County Commercial Division issued a decision in Spa… Read More
May 26, 2020
Continuing Wrong Doctrine Does Not Save Plaintiff's Claims From Being Time-Barred
On April 28, 2020, Justice Cohen of the New York County Commercial Division issued a decision in Mar… Read More
May 25, 2020
Court Analyzes Negligence and Fraud Claims Against Appraiser
On May 5, 2020, Justice Cohen of the New York County Commercial Division issued a decision in Shavol… Read More
May 18, 2020
Fraud Plaintiff's Due Diligence Sufficient When it Considered the Facts Reasonably Available to It
On February 19, 2020, Justice Borrok of the New York County Commercial Division issued a decision in… Read More
May 1, 2020
Lack of Due Diligence Dooms Fraudulent Inducement Claim
On April 16, 2020, Justice Ostrager of the New York County Commercial Division issued a decision in … Read More
April 15, 2020
Attorney Can Be Liable for Participating in a Client's Tortious Misconduct
On March 31, 2020, Justice Schecter of the New York County Commercial Division issued a decision in … Read More
April 13, 2020
GBL 349 Claim Cannot be Based on Failure to Disclose Illegal Conduct
On April 2, 2020, the Court of Appeals issued a decision in Collazo v. Netherland Prop. Assets LLC, … Read More
April 12, 2020
Cost of Litigation Does Not Satisfy Damages Element of Tort Claim
On April 9, 2020, the First Department issued a decision in CWCapital Invs. LLC v. CWCapital Cobalt … Read More
April 11, 2020
Court Rejects Due Diligence Defense to Fraud Claim
On April 9, 2020, the First Department issued a decision in Knox, LLC v. Lakian, 2020 NY Slip Op. 02… Read More
March 27, 2020
Fraud Claim Regarding Company's Legal Status Fails for Lack of Due Diligence; Status Was Available to Public on Government Website
On March 6, 2020, Justice Schecter of the New York County Commercial Division issued a decision in N… Read More
March 15, 2020
Securities Act Sections 11 and 12 Claims in State Court Not Required to be Plead with Particularity
On February 26, 2020, Justice Scarpulla of the New York County Commercial Division issued a decision… Read More
February 29, 2020
Merger Clause Defeats Fraudulent Inducement Claim
On February 6, 2020, Justice Schecter of the New York County Commercial Division issued a decision i… Read More
January 10, 2020
Fraud Claim Dismissed; Plaintiff's Reliance on Alleged Misrepresentations was Unreasonable Due to Plaintiff's Failure to Exercise Due Diligence
On December 26, 2019, the First Department issued a decision in Unique Goals Intl., Ltd. v. Finskiy,… Read More
December 23, 2019
Trial Court Properly Declined to Decide Issue of Reasonable Reliance on Summary Judgment
On December 17, 2019, the First Department issued a decision in Norddeutsche Landesbank Girozentrale… Read More
November 16, 2019
Aiding and Abetting Fraud Claim Fails for Lack of Evidence of Substantial Assistance
On October 29, 2019, Justice Masley of the New York County Commercial Division issued a decision in … Read More
October 13, 2019
Fraud Claim Cannot be Based on Alleged Intention Not to Perform Contract
On September 25, 2019, Justice Sherwood of the New York County Commercial Division issued a decision… Read More
October 12, 2019
Court Dismisses Federal Securities Fraud Claims
On September 26, 2019, Justice Scarpulla of the New York County Commercial Division issued a decisio… Read More
August 8, 2019
Alleged Misrepresentation Regarding Future Performance Insufficient to Support Claim for Fraudulent Inducement
On July 8, 2019, Justice Scarpulla of the New York County Commercial Division issued a decision in G… Read More
July 30, 2019
Merger Clause That Lacked Specificity Needed to Bar Fraud Claims
On July 15, 2019, Justice Sherwood of the New York County Commercial Division issued a decision in D… Read More
July 24, 2019
Fraud Claim Not Duplicative of Contract Claim Because Alleged Misrepresentations Were Collateral to the Contract
On July 17, 2019, the Second Department issued a decision in Did-it.com, LLC v. Halo Group, Inc., 20… Read More
July 15, 2019
Fraud Claims Not Duplicative of Malpractice Claims
On June 27, 2019, Justice Scarpulla of the New York County Commercial Division issued a decision in … Read More
July 2, 2019
Qui Tam Claim Not Subject to Particularity Requirements of CPLR 3106
On June 20, 2019, Justice Ostrager of the New York County Commercial Division issued a decision in S… Read More
June 20, 2019
Group Pleading Renders Fraud Claim Insufficient
On June 7, 2019, Justice Cohen of the New York County Commercial Division issued a decision in Arent… Read More
May 12, 2019
Fraud in the Inducement Claim Not Duplicative of Breach of Contract Claim
On May 1, 2019, the Second Department issued a decision in 260 Mamaroneck Ave., LLC v. Guaraglia, 2… Read More
May 7, 2019
Fraudulent Inducement Counterclaim Dismissed for Failure to Allege Out-of-Pocket Damages
On April 12, 2019, Justice Ostrager of the New York County Commercial Division issued a decision in… Read More
April 8, 2019
Contractual Disclaimers Barred Fraud Claim
On March 21, 2019, Justice Sherwood of the New York County Commercial Division issued a decision in… Read More
April 7, 2019
Claimed Deception Among Jewelry Wholesales Supported General Business Law 349 Claim Because Alleged Fraud Ultimately Harmed Public
On March 18, 2019, Justice Scarpulla of the New York County Commercial Divsion issued a decision in… Read More
March 31, 2019
Fraud Claim Should Not Have Been Dismissed As Duplicative of Breach of Contract Claim
On March 19, 2019, the First Department issued a decision in Ohm NYC LLC v. Times Sq. Assoc. LLC, … Read More
March 28, 2019
Fraud Claim Dismissed for Failure to Allege Who Made Misrepresentation and Where, When and How it was Made
On March 12, 2019, Justice Sherwood of the New York County Commercial Division issued a decision in… Read More
February 21, 2019
Fraud Claim Not Duplicative of Contract Claim Because it Was Alleged Misrepresentation Made Before Contract and Was Collateral to It
On February 5, 2019, the First Department issued a decision in Dynamic-Hakim, LLC v. Maloney, 2019 … Read More
February 17, 2019
Fraud Claim Dismissed for Failure to Show Out-of-Pocket Damages
On February 8, 2019, the Fourth Department issued a decision in Southwestern Invs. Group, LLC v. JH … Read More
February 1, 2019
Complaint Found to State Aiding and Abetting Fraud Claim Against Law Firm
On January 24, 2019, the First Department issued a decision in Gansett One, LLC v. Husch Blackwell, … Read More
January 30, 2019
Court Imposes Constructive Trust Over Proceeds of Fraud
On January 10, 2019, Justice Ash of the Kings County Commercial Division issued a decision in Kliba… Read More
January 8, 2019
Questions of Fact Preclude Dismissal Regarding Whether Plaintiff's Reliance on Alleged Misrepresentations Was Reasonable
On December 27, 2018, Justice Bransten of the New York County Commercial Division issued a decision… Read More
January 6, 2019
Court Erred in Dismissing GBL Section 349 Claim
On January 3, 2019, the Third Department issued a decision in Belair Care Ctr., Inc. v. Cool Insurin… Read More
December 16, 2018
Disclaimers of Representations Not Specific Enough to Bar Fraud Claim
On November 19, 2018, Justice Ramos of the New York County Commercial Division issued a decision in … Read More
December 13, 2018
Fraud Claim Survives Despite Failure to Differentiate Between Acts of Different Defendants
On December 4, 2018, the First Department issued a decision in 47-53 Chrystie Holdings LLC v. Thuan… Read More
December 9, 2018
Fraud Claim Dismissed Because Plaintiff's Alleged Reliance Was Not Reasonable
On November 28, 2018, Justice Schecter of the New York County Commercial Division issued a decision … Read More
November 13, 2018
Fraud Claim Dismissed Because of Sophisticated Investor's Lack of Due Diligence
On October 29, 2018, Justice Sherwood of the New York County Commercial Division issued a decision i… Read More
November 12, 2018
Dismissal With Prejudice of Federal Securities Law Claims Does Not Bar Common Law Fraud Claims
On October 30, 2018, Justice Sherwood of the New York County Commercial Division issued a decision i… Read More
October 11, 2018
Intention Not to Perform Contract Cannot Be Basis of Fraudulent Inducement Claim
On September 21, 2018, Justice Sherwood of the New York County Commercial Division issued a decision… Read More
August 31, 2018
Fraud Claim Dismissed for Lack of Reasonable Reliance
On August 15, 2018, Justice Sherwood of the New York County Commercial Division issued a decision in… Read More
August 12, 2018
Fraud Claim Dismissed as Duplicative of Contract Claim: No Separate Damages Alleged
On August 6, 2018, Justice Masley of the New York County Commercial Division issued a decision in TJ… Read More
August 2, 2018
Fraud Claim Held Untimely Even Under Two-Year Discovery Rule
On July 23, 2018, Justice Platkin of the Albany County Commercial Division issued a decision in Esse… Read More
June 29, 2018
FTC Rule Does Not Preempt General Business Law Claims Against Broadband Providers
On June 21, 2018, the First Department issued a decision in People v. Charter Communications, Inc., … Read More
June 21, 2018
Fraud Claim Dismissed as Duplicative of Contract Claim
On June 5, 2018, Justice Sherwood of the New York County Commercial Division issued a decision in Bo… Read More
June 15, 2018
Martin Act Claims are Subject to Three-Year Statute of Limitations
On June 12, 2018, the Court of Appeals issued a decision in People v. Credit Suisse Sec. (USA) LLC, … Read More
June 8, 2018
Fraud Claim Dismissed; Claim Was Derivative, Not Direct
On May 30, 2018, Justice Masley of the New York County Commercial Division issued a decision in Khan… Read More
May 9, 2018
New York Does Not Recognize "Holder Claims"
On April 23, 2018, Justice Kornreich of the New York County Commercial Division issued a decision in… Read More
April 22, 2018
Fraudulent Inducement Claim Dismissed on Summary Judgment for Lack of Reasonable Reliance
On April 9, 2018, Justice Kornreich of the New York County Commercial Division issued a decision in … Read More
April 19, 2018
Fraudulent Inducement Claim Against Lawyer Upheld; Client Was Reasonable in Relying on Counsel Rather Than Reading Agreement Closely
On April 10, 2018, the First Department issued a decision in Suttongate Holdings Ltd. v. Laconm Mana… Read More
March 14, 2018
Internet Providers' Claims of Access Speed "Up To" A Certain Number Can Be Subject of Fraud Claim if They Cannot Achieve That Speed
On February 13, 2018, Justice Sherwood of the New York County Commercial Division issued a decision … Read More
February 12, 2018
No Claim for Civil Conspiracy Without An Underlying Tort
On February 7, 2018, the Second Department issued a decision in McSpedon v. Levine, 2018 NY Slip Op.… Read More
February 11, 2018
Plaintiff Cannot Withstand Summary Judgment By Showing Question of Fact on One Element of Fraud Claim if it Fails on Another Element
On January 22, 2018, Justice Sherwood of the New York County Commercial Division issued a decision i… Read More
February 5, 2018
Fraud Claim Prevails; Plaintiff Not Required to Obtain Representations and Warranties From its Agent
On January 30, 2018, the First Department issued a decision in Schulhof v. Jacobs, 2018 NY Slip Op. … Read More
January 23, 2018
Company Cannot Sue its President and Sole Shareholder for Fraud; Defendant's Knowledge of the Fraud is Imputed to the Company
On January 18, 2018, the First Department issued a decision in Doral Fabrics, Inc. v. Gold, 2018 NY … Read More
January 10, 2018
Question of Fact Regarding Plaintiff's Constructive Notice of Misrepresentation Precluded Dismissal
On January 9, 2018, the First Department issued a decision in Macquarie Capital (USA) Inc. v. Morris… Read More
December 29, 2017
Defendant's Failure to Disclose its Business Plans Cannot be Basis for Fraud Claim
On December 14, 2017, Justice Scarpulla of the New York County Commercial Division issued a decision… Read More
December 15, 2017
Fraud Claim Dismissed for Failing to Plead Scienter With Particularity
On December 12, 2017, the First Department issued a decision in Fried v. Lehman Brothers Real Estate… Read More
December 13, 2017
Fraud Claim Should Not Have Been Dismissed as Time-Barred; Question of Fact Existed Regarding When Fraud Should Have Been Discovered
On December 5, 2017, the First Department issued a decision in Berman v. Holland & Knight, LLP, 2017… Read More
November 20, 2017
Fraud Claim Time-Barred; Plaintiffs Failed Timely to Take Action After They Had Inquiry Notice of Claim
On November 14, 2017, the First Department issued a decision in Moses v. Dunlop, 2017 NY Slip Op. 07… Read More
October 29, 2017
Fraud Plaintiff Was Unreasonable in Relying on Representation Contradicted by Term Sheet
On October 13, 2017, Justice Masley of the New York County Commercial Division issued a decision in … Read More
September 29, 2017
Fraudulent Inducement Claims Dismissed on Summary Judgment: No Reasonable Reliance
On September 15, 2017, Justice Sherwood of the New York County Commercial Division issued a decision… Read More
September 21, 2017
Fraud Claim Based on Promise to Perform Under the Parties' Contract Dismissed
In September 19, 2017, a divided First Department issued a decision in Cronos Group Ltd. v. XComIP, … Read More
September 3, 2017
Fraud Claim Cannot be Based on Statement Contradicted by Unambiguous Term of Contract
On August 25, 2017, Justice Kornreich of the New York County Commercial Division issued a decision i… Read More
August 13, 2017
Two-Year Discovery Rule Does Not Save Fraud Claim from Being Time-Barred
On August 7, 2017, Justice Kornreich of the New York County Commercial Division issued a decision in… Read More
August 8, 2017
Merger Clause Bars Fraud Claim
On July 31, 2017, Justice Sherwood of the New York County Commercial Division issued a decision in R… Read More
June 18, 2017
Fraud Claim Can Be Based on Breach of Contractual Warranties
On May 31, 2017, Justice Scarpulla of the New York County Commercial Division issued a decision in A… Read More
June 7, 2017
Fraud Claim Dismissed as Time-Barred; Plaintiffs Were on Inquiry Notice
On June 1, 2017, the First Department issued a decision in MBI International Holdings Inc. v. Barcla… Read More
June 6, 2017
Promise Made With Preconceived Intention of Not Performing Supports Fraudulent Inducement Claim
On May 30, 2017, the First Department issued a decision in White v. Davidson, 2017 NY Slip Op. 04219… Read More
May 22, 2017
Insurance Law § 3105 Does Not Dispense with Requirement of Proving Reliance and Loss Causation
On May 16, 2017, the First Department issued a decision in Ambac Assurance Corp. v. Countrywide Home… Read More
May 21, 2017
Unfair Competition Damages Not Recoverable Under Computer Fraud and Abuse Act
On May 10, 2017, Justice Kornreich of the New York County Commercial Division issued a decision in S… Read More
May 20, 2017
Fraud Claim Dismissed As Duplicative of Contract Claim
On May 5, 2017, Justice Singh of the New York County Commercial Division issued a decision in Solar … Read More
May 18, 2017
Court Will Ignore Corporate Form When it is Used to Perpetrate a Fraud
On April 7, 2017, Justice Dufficy of the Queens County Commercial Division issued a decision in Nand… Read More
May 14, 2017
Fraud Claim Dismissed for Lack of Reasonable Reliance
On April 28, 2017, Justice Scarpulla of the New York County Commercial Division issued a decision in… Read More
May 5, 2017
Court of Appeals Affirms Dismissal of Fraudulent Inducement Claim for Failure to Plead "Actual Pecuniary Loss"
On May 2, 2017, the Court of Appeals issued a decision in Connaughton v. Chipotle Mexican Grill, Inc… Read More
April 29, 2017
Fraudulent Inducement Claim Dismissed For Failure to Allege Due Diligence
On April 7, 2017, Justice Bransten of the New York County Commercial Division issued a decision in D… Read More
April 24, 2017
Defendant Need Not Make Misrepresentations to be Liable for Aiding and Abetting Fraud
On April 13, 2017, Justice Bransten of the New York County Commercial Division issued a decision in … Read More
April 9, 2017
Fraud Claim Based on Same Facts as Legal Malpractice Claim Dismissed
On March 28, 2017, Justice Scarpulla of the New York County Commercial Division issued a decision in… Read More
April 7, 2017
Negligent Representation Claim Fails; No Special Relationship
On April 4, 2017, the First Department issued a decision in Coöperative Centrale Raiffeisen-Boerenl… Read More
March 15, 2017
RMBS Fraud Claim Dismissed for Inability to Tie Losses to Misrepresentations
On March 2, 2017, the First Department issued a decision in Basis PAC-Rim Opportunity Fund (Master) … Read More
March 8, 2017
Continuing Wrong Doctrine Does Not Save Plaintiff's Claims Against Credit Card Issuer
On February 23, 2017, the First Department issued a decision in Henry v. Bank of America, 2017 NY Sl… Read More
March 3, 2017
No Fraud Claim for Lost Profits
On February 23, 2017, the First Department issued a decision in Norcast S.ar.l. v. Castle Harlan, In… Read More
March 2, 2017
Fraud Claim Survives Split Decision Regarding When Plaintiff Could Have Discovered Claim
On February 23, 2017, the First Department issued a decision in Norddeutsche Landesbank Girozentrale… Read More
February 25, 2017
Insurer Adequately Pleads Reliance on RMBS Issuer's Representations
On December 19, 2016, Justice Friedman of the New York County Commercial Division issued a decision … Read More
February 19, 2017
Dismissal of Fraudulent Misrepresentation Claim Based on Respondeat Superior Theory Affirmed
On February 14, 2017, the First Department issued a decision in VFP Investments I LLC v. Foot Locker… Read More
February 15, 2017
Fraud Plaintiff Was Reasonable in Relying on Opinion Letter Without Doing Independent Appraisal
On February 10, 2017, the First Department issued a decision in Remediation Capital Funding LLC v. N… Read More
February 14, 2017
First Department Affirms Dismissal of Investor Claims Against Rating Agencies as Time-Barred
On February 10, 2017, the First Department issued a decision in Varga v. McGraw Hill Financial, Inc.… Read More
January 24, 2017
Inquiry Notice of Fraud Existed When Party Received PPM That Contradicted Oral Promises
On January 19, 2017, First Department issued a decision in Hamrick v. Guralnick, 2017 NY Slip Op. 00… Read More
January 16, 2017
Fraudulent Inducement Claim Fails for Failure to Prove Out-of-Pocket Damages
On January 12, 2017, the First Department issued a decision in Kumiva Group, LLC v. Garda USA Inc., … Read More
January 10, 2017
Negligent Misrepresentation Claim Against Accountants Fails For Lack of Link to Plaintiff's Use
On January 5, 2017, the First Department issued a decision in GSP Finance LLC v. KPMG LLP, 2017 NY S… Read More
January 2, 2017
If Party Has No Way of Discovering Problem, Specific Disclaimer May Not Bar Claim
On December 20, 2016, Justice Ostrager of the New York County Commercial Division issued a decision … Read More
December 19, 2016
AG's Statutory Fraud Claims Relating to RMBS Sales Timely
On December 13, 2016, the First Department issued a decision in People v. Credit Suisse Sec. (USA) L… Read More
December 12, 2016
Claim for Material Misrepresentation in the Inducement of an Insurance Contract Does Not Require Submission of a Written Application for Insurance
On November 29, 2016, the First Department issued a decision in CIFG Assur. N. Am., Inc. v. J.P. Mor… Read More
November 22, 2016
RMBS Fraud Claims Upheld; Plaintiff Was Justified in Relying on Misrepresentations
On November 17, 2016, the First Department issued a decision in Phoenix Light SF Ltd. v. Credit Suis… Read More
November 10, 2016
CDO Fraud Claim Upheld; Disclaimers Did Not Shield Defendant from Liability
On November 3, 2016, the First Department issued a decision in Aozora Bank, Ltd. v. J.P. Morgan Secu… Read More
September 11, 2016
Fraud Claim Sufficient if Allegations Create a Reasonable Inference of Alleged Conduct
On August 29, 2016, Justice Singh of the New York County Commercial Division issued a decision in Ah… Read More
September 7, 2016
Plaintiff With Access to Corporate Records Was Not Reasonable in Relying on Misrepresentations
On September 1, 2016, the First Department issued a decision in MP Cool Investments Ltd. v. Forkosh,… Read More
August 12, 2016
First Department Clarifies Fraud Pleading Standards
On August 11, 2016, the First Department issued a decision in IKB International, S.A. v. Morgan Stan… Read More
August 3, 2016
Fraud Claim Survives Despite Merger Clause Disclaiming Extra-Contractual Representations
On July 25, 2016, Justice Singh of the New York County Commercial Division issued a decision in 438 … Read More
July 5, 2016
Plaintiff Cannot Establish Reliance Element of Fraud Claim by Showing Only Third Party Reliance
On June 30, 2016, the Court of Appeals issued a decision in Pasternack v. Laboratory Corp. of Americ… Read More
June 8, 2016
A General Disclaimer of Collateral Representations Does Not Preclude All Fraud Claims
On May 25, 2016, Justice Kornreich of the New York County Commercial Division issued a decision in P… Read More
June 6, 2016
Sophisticated Investor Must Plead Due Diligence Adequately to Plead Reasonable Reliance
On May 31, 2016, the First Department issued a decision in MP Cool Investments Ltd. v. Forkosh, 2016… Read More
May 31, 2016
Fraud Claims Relying on Unnamed Third-Party's Report of Alleged Overheard Conversation Dismissed
On May 26, 2016, the First Department issued a decision in Manda Intl. Corp. v. Yager, 2016 NY Slip … Read More
May 6, 2016
Fraud Claims Dismissed for Failure to Plead Out-of-Pocket Loss
On April 25, 2016, Justice Scarpulla of the New York County Commercial Division issued a decision in… Read More
May 2, 2016
General Merger Clause in Contract for Sale of Business Does Not Preclude Fraudulent Inducement Claim
On April 12, 2016, Justice Demarest of the Kings County Commercial Division issued a decision in Fer… Read More
April 25, 2016
Inaction in Face of Alleged Knowledge of Another's Wrongdoing Not Aiding and Abetting
On April 19, 2016, the First Department issued a decision in Balanced Return Fund Ltd. v. Royal Bank… Read More
April 8, 2016
Fraud Claim Time-Barred Under Two-Year Discovery Rule
On March 31, 2016, the First Department issued a decision in Aozora Bank, Ltd. v. Deutsche Bank Secu… Read More
April 4, 2016
Fraud Claim Dismissed for Failure Adequately to Plead Scienter
On March 24, 2016, the First Department issued a decision in Israel Discount Bank of N.Y. v. EisnerA… Read More
March 9, 2016
Statements of Future Intentions or Expressions of Hope not Actionable as Fraudulent Inducement
On March 8, 2016, the First Department issued a decision in Jacobson v. Croman, 2016 NY Slip Op. 016… Read More
February 20, 2016
Plaintiff Fails to Prove Scienter; Defendant Had No Reason to Doubt Truth of its Representation
On February 9, 2016, the First Department issued a decision in Edward Tyler Nahem Fine Art, L.L.C. v… Read More
February 2, 2016
Fraud Claim Dismissed as Duplicative of Contract Claim
On January 27, 2016, the Second Department issued a decision in Doukas v. Ballard, 2016 NY Slip Op. … Read More
January 30, 2016
Fraud Claims Barred by Disclaimer Where Party had Means to Discover Facts Before Signing Contract
On January 19, 2016, the First Department issued a decision in Harmit Realties LLC v. 835 Avenue of … Read More
January 25, 2016
Fraudulent Misrepresentation Requires Out-Of-Pocket Losses, Lost Profits Insufficient
On January 19, 2016, in Connaughton v. Chipotle Mexican Grill, 2016 NY Slip Op 00273, a divided pane… Read More
January 18, 2016
Agreement Assigning "All Right, Title and Interest" in Bonds Insufficient to Assign Fraud Claims
On January 12, 2016, the First Department issued a decision in Dexia SA/NV v. Stanley, 2016 NY Slip … Read More
January 8, 2016
Aiding and Abetting Fraud Requires Allegations of Substantial Assistance to a Fraudulent Scheme
On January 7, 2016, the First Department issued a decision in Chambers v. Weinstein, 2016 NY Slip Op… Read More
January 7, 2016
No Reasonable Reliance: Plaintiff Failed to Read Prospectuses Disclosing Allegedly-Withheld Facts
On January 5, 2016, the First Department issued a decision in Northern Group Inc. v. Merrill Lynch, … Read More
January 4, 2016
Reasonable Reliance Does Not Require Investor to Investigate CDO Credit Ratings
On December 29, 2015, the First Department issued a decision in Basis Yield Alpha Fund Master v. Mor… Read More
December 30, 2015
Fraud Claims May Be Pled on Information and Belief
On December 22, 2015, the First Department issued a decision in Allenby, LLC v. Credit Suisse, AG, 2… Read More
December 17, 2015
Court of Appeals Accepts Certified Question on Whether Fraud Claim Can Be Based on Third-Party Reliance
On December 15, 2015, the Court of Appeals accepted a certified question from the Second Circuit in … Read More
November 28, 2015
Plaintiff Fails to Plead Fraud Claim Under Special Facts Doctrine
On October 9, 2015, Justice Ramos of the New York County Commercial Division issued a decision in ZF… Read More
November 5, 2015
Fraud Claim Dismissed Because of Failure to Show Due Diligence
On October 22, 2015, Justice Singh of the New York County Commercial Division issued a decision in K… Read More
October 24, 2015
Court Analyzes Fraud Claim in Context of RMBS CDO Sale
On October 16, 2015, Justice Kornreich of the New York County Commercial Division issued a decision … Read More
September 24, 2015
Fraudulent Inducement Claim Based on Defendant's Intention Not to Perform When Contract Made
On September 23, 2015, the Second Department issued a decision in Vision Accomplished, Inc. v. Lowe … Read More
September 11, 2015
Claim for Aiding and Abetting Fraud Requires Proof of Actual Knowledge of the Fraud
On August 18, 2015, Justice Pines of the Suffolk County Commercial Division issued a decision in Otk… Read More
August 27, 2015
Plaintiff States Claim for Fraudulent Inducement Despite Being At-Will Employee
On August 25, 2015, the First Department issued a decision in Laduzinski v. Alvarez & Marsal Taxand … Read More
August 25, 2015
Contract's Arbitration Clause Enforced Despite Alleged Fraud Relating to Contract
On August 19, 2015, the Second Department issued a decision in Ferrarella v. Godt, 2015 NY Slip Op. … Read More
August 21, 2015
Failure to Disclose Stark Departure from Basic Assumption in Industry States Fraud Claim
On August 18, 2015, the First Department issued a decision in ACA Financial Guaranty Corp. v. Goldma… Read More
August 7, 2015
Fraud Claim Dismissed Because Claimed Damages Violated Out-of-Pocket Rule
On July 24, 2015, Justice Scarpulla of the New York County Commercial Division issued a decision in … Read More
July 29, 2015
No Fraudulent Inducement Claim When Contract Disclaims All Non-Contractual Representations
On July 15, 2015, the Second Department issued a decision in Oseff v. Scotti, 2015 NY Slip Op. 06123… Read More
July 8, 2015
Fraudulent Inducement Claim Proper Even Though False Representation Was Contained in Contract
On July 7, 2015, the First Department issued a decision in Wyle Inc. v. ITT Corp., 2015 NY Slip Op. … Read More
July 5, 2015
Fraud Claim Accrues at Time of Transaction, Not When Losses Subsequently Are Realized
On June 17, 2015, Justice Friedman of the New York County Commercial Division issued a decision in C… Read More
July 1, 2015
Purchaser of Note Lacked Standing to Bring Fraud Claims Because Claims Not Specifically Assigned
On June 30, 2015, the Court of Appeals issued a decision in Commonwealth of Pa. Public School Employ… Read More
June 23, 2015
Contractual Disclaimers Preclude Party From Pleading Justifiable Reliance Element of Fraud Claim
On June 2, 2015, Justice Ramos of the New York County Commercial Division issued a decision in Harmi… Read More
June 2, 2015
Action Time-Barred for Failure to Exercise Due Diligence in Investigating Claim
On May 28, 2015, the First Department issued a decision in CIFG Assurance North America, Inc. v. Cre… Read More
May 18, 2015
Court of Appeals Addresses Standard for Pleading "Justifiable Reliance" In Commercial Fraud Cases
On May 7, 2015, the Court of Appeals issued a decision in ACA Financial Guaranty Corp. v. Goldman, S… Read More
May 17, 2015
Decision Analyzes Elements of Claim for Fraud
On March 16, 2015, Justice Bransten of the New York County Commercial Division issued a decision in … Read More
May 8, 2015
Defendant's Specialized Knowledge of its Own Business Insufficient Basis for Negligent Misrepresentation Claim
On April 16, 2015, Justice Ramos of the New York County Commercial Division issued a decision in Pho… Read More
April 29, 2015
No Dismissal Where Questions of When Fraud Could have Been Discovered Exist
On April 20, 2015, Justice Bransten of the New York County Commercial Division issued a decision in … Read More
April 22, 2015
No Claim for Negligent Misrepresentation Without Special Relationship
On April 14, 2015, the First Department issued a decision in J.P. Morgan Securities Inc. v. Ader, 20… Read More
March 17, 2015
Buyer’s Fraudulent Inducement Claim Survives Motion To Dismiss Despite Contract Provision Disclaiming Reliance On Seller’s Representations
On March 3, 2015, the First Department issued a decision in TIAA Global Investments, LLC v. One Asto… Read More
February 22, 2015
Martin Act Applies to Claims About Trading Venue as Well as Securities Traded in that Venue
On February 13, 2015, Justice Kornreich of the New York County Commercial division issued a decision… Read More
February 14, 2015
No Reasonable Reliance Without Due Diligence
On February 3, 2015, Justice Kornreich of the New York County Commercial Division issued a decision … Read More
February 3, 2015
No Negligent Misrepresentation Claim Without Special Relationship of Trust or Confidence
On January 27, 2015, the First Department issued a decision in Basis Pac-Rim Opportunity Fund (Maste… Read More
December 11, 2014
Sophisticated Party Fails to State Fraud Claim When it Cannot Show Due Diligence
On December 4, 2014, the First Department issued a decision in MAFG Art Fund, LLC v. Gagosian, 2014 … Read More
November 25, 2014
Fraud Claim Fails When Sophisticated investor Fails to Conduct Due Diligence
On November 20, 2014, the First Department issued a decision in MMCT, LLC v. JTR College Point, LLC,… Read More
November 21, 2014
Court of Appeals Accepts Certified Questions Regarding Fraud and Assignability of Fraud Claims
On November 20, 2014, the Court of Appeals accepted certified questions from the Second Circuit, i… Read More
October 12, 2014
Claim for Conspiracy to Commit Fraud Allowed as Claim for Liability for Fraud on Part of Conspirators
On September 23, 2014, Justice Schmidt of the Kings County Commercial Division issued a decision in … Read More
October 7, 2014
Fraud Claim Reinstated When Inaction Based on Fraudulent Statements Could be Presumed
On October 2, 2014, the First Department issued a decision in Fidelity National Title Insurance Co. … Read More
September 29, 2014
No Claim for Fraudulent Concealment Where no Duty to Disclose
On September 23, 2014, the First Department issued a decision in SSA Holdings LLC v. Kaplan, 2014 NY… Read More
September 10, 2014
Fraud Claim Dismissed As Duplicative of Breach of Contract Claim
On September 4, 2014, the First Department issued a decision in Beta Holdings, Inc. v. Goldsmith, 20… Read More
August 30, 2014
Sophisticated Party Cannot Use Lack of Time as Excuse for Failure to Exercise Due Diligence
On August 6, 2014, Justice Sherwood of the New York County Commercial Division issued a decision in … Read More
August 27, 2014
Defendant Can Be Held Liable Statements in Preliminary Offering Materials it Later Disclaimed
On August 5, 2014, Justice Schweitzer of the New York County Commercial Division issued a decision i… Read More
August 16, 2014
Lack of Due Diligence no Bar to Fraud Claim When no Amount of Diligence Would have Uncovered Fraud
On August 4, 2014, Justice Schweitzer of the New York County Commercial Division issued a decision i… Read More
August 6, 2014
Fraud Claim Dismissed for Failure to Exercise Due Diligence
On July 25, 2014, Justice Scarpulla of the New York County Commercial Division issued a decision in … Read More
July 21, 2014
Court Examines Scope of Claim for Fraudulent Conveyance
On July 7, 2014, Justice Ramos of the New York County Commercial Division issued a decision in 135 E… Read More
July 14, 2014
Insurer Could Not Use Tort Theory to Transfer Back to Insured Risks the Insurer Had Assumed
On July 3, 2014, Justice Kornreich of the New York County Commercial Division issued a decision in A… Read More
July 12, 2014
Claims Dismissed for Failure to Present Evidence of Proximate Causation
On June 30, 2014, Justice Sherwood of the New York County Commercial Division issued a decision in M… Read More
June 20, 2014
Decision Illustrates Limits to the Scope of General Business Law Section 349
On June 12, 2014, the First Department issued a decision in Seller v. Citimortgage, Inc., 2014 NY Sl… Read More
June 18, 2014
Fraud Claim Dismissed for Lack of Reasonable Reliance Where Sophisticated Plaintiff Failed to Conduct Due Diligence
On June 13, 2014, Justice Ramos of the New York County Commercial Division issued a decision in Phoe… Read More
May 28, 2014
Unilateral Mistake Insufficient to Justifiy Reformation of Deed Without Clear and Convincing Evidence of Fraud
On May 22, 2014, the Third Department issued a decision in Timber Rattlesnake, LLC v. Devine, 2014 N… Read More
May 26, 2014
Merger Clause Prevents Fraud Claim Based on Alleged Pre-Contract Promises
On May 16, 2014, Justice Kornreich of the New York County Commercial Division issued a decision in A… Read More
May 20, 2014
Fraudulent Inducement Claim Not Duplicative When Based on Misrepresentations of Present Facts Collateral to Contract
On May 13, 2014, the First Department issued a decision in Shugrue v. Stahl, 2014 NY Slip Op. 03460,… Read More
May 18, 2014
Reports Can Be Basis for Fraud Claim Despite Disclaimers When Facts Peculiarly within Defendant's Knowledge
On May 13, 2014, the First Department issued a decision in Forty Central Park South, Inc. v. Anza, 2… Read More
May 3, 2014
No Fraud Without Justifiable Reliance on Alleged Misrepresentation
On May 1, 2014, the First Department issued a decision in Mosaic Caribe, Ltd. v. AllSettled Group, I… Read More
February 24, 2014
First Department Rules That Disgorgement May Be Available As An Equitable Remedy For Attorney General Claims Under Martin Act and Executive Law
On February 20, 2014, the First Department issued a decision in People v. Ernst & Young, LLP, 20… Read More
January 2, 2014
Decision Explores the Distinction Between Transaction Causation and Loss Causation
On December 24, 2013, Justice Kornreich of the New York County Commercial Division issued a decision… Read More
December 6, 2013
No Negligent Misrepresentation Claim From Arm's Length Transaction Between Sophisticated Parties
On November 26, 2013, the First Department issued a decision in Zohar CDO 2003-1 Ltd. v. Xinhua Spor… Read More
December 2, 2013
IRS Audit Put Taxpayer on Inquiry Notice of Possible Fraud Claim Against Tax Advisor
On November 19, 2013, Justice Friedman of the New York County Commercial Division issued a decision … Read More
November 5, 2013
Courts Continue to Wrestle with Standard for Reasonable Reliance in Commercial Contexts
On October 31, 2013, Justice Ramos of the New York County Commercial Division issued a decision in M… Read More
October 20, 2013
Assignees of Purchaser of Residential Mortgage-Backed Securities Lack Standing to Sue and Assignor Failed to Adequately Plead Fraud Damages
On October 16, 2013, Justice Bransten of the New York County Commercial Division issued a decision i… Read More
