On May 28, 2024, the First Department issued a decision in Cimen v. HQ Capital Real Estate L.P., 2024 NY Slip Op. 02888, dismissing fraud claims based on future performance, explaining:
Expressions of hope for the future do not constitute actionable representations of fact [A] party does not make an actionable representation of fact when predicting a future event with no knowledge of whether or not the event may occur. Thus, to the extent the first and second causes of action (fraud and negligent misrepresentation) were based on the investment memoranda’s understatement of the expected vacancy losses, they were properly dismissed.
(Internal quotations and citations omitted).