On December 27, 2025, Justice Masley of the New York County Commercial Division issued a decision in AMTAX Holdings 227, LLC v. Cohnreznick LLP, 2025 NY Slip Op. 35086(U), holding that normally, accountants do not have fiduciary duties to their clients . . . Continue reading Accountant Does Not Have Fiduciary Duties to Clients
On December 24, 2025, the Second Department issued a decision in Yellin v. Revival Prop. Group, LLC, 2025 NY Slip Op. 07332, holding that a real estate broker has a fiduciary duty and representation of multiple parties to a transaction must therefore be disclosed . . . Continue reading Real Estate Broker Has Fiduciary Duty and Representation of Multiple Parties to a Transaction Must be Disclosed
On October 29, 2025, the Second Department issued a decision in Guambana v. Molina, 2025 NY Slip Op. 05942, affirming the imposition of a constructive trust based on the abuse of a confidential or fiduciary relationship . . . Continue reading Constructive Trust Imposed Based on Abuse of Confidential or Fiduciary Relationship
On September 10, 2025, the Second Department issued a decision in Celauro v. Celauro, 2025 NY Slip Op. 04870, affirming the dismissal of a breach of fiduciary duty claim for failure adequately to allege facts establishing a breach . . . Continue reading Breach of Fiduciary Duty Claim Dismissed for Failure Adequately to Plead the Breach with Particularity
On May 29, 2025, the First Department issued a decision in Kiehl v. Cavicchio, 2025 NY Slip Op. 03252, holding that claims arising from an alleged joint venture failed for lack of adequate allegation of the existence of the joint venture/partnership . . . Continue reading Claims Based on Existence of Joint Venture or Partnership Dismissed for Failure Adequately to Allege Joint Venture/Partnership
On May 20, 2025, the Court of Appeals issued a decision in Ezrasons, Inc. v. Rudd, 2025 NY Slip Op. 03008, holding that amendments to the BCL did not change the common law internal affairs doctrine . . . Continue reading BCL Amendments Did Not Change Common Law Internal Affairs Doctrine
On April 16, 2025, Justice Cohen of the New York County Commercial Division issued a decision in Fitterer v. Carone, 2025 NY Slip Op. 31347(U), holding that only the manager of a member-managed LLC owes fiduciary duties to the other members . . . Continue reading Only the Manager of a Member-Managed LLC Owes Fiduciary Duties
On July 12, 2024, Justice Chan of the New York County Commercial Division issued a decision in Agarwal v. Jain, 2024 NY Slip Op. 32492(U), holding that allegations of bad faith barred dismissal of breach of fiduciary duty claims based on the business judgment rule . . . Continue reading Allegations of Bad Faith Bar Dismissal Based on Business Judgment Rule
On July 24, 2024, the Second Department issued a decision in Tzu Yen Cheung v. Dolar Shop Rest. Group, LLC, 2024 NY Slip Op. 03905, holding that an LLC does not (necessarily) owe a fiduciary duty to its members . . . Continue reading LLC Does Not (Necessarily) Owe a Fiduciary Duty to its Members
On May 14, 2024, Justice Bannon of the New York County Commercial Division issued a decision in Spectrum Inc. Gen. Contr. v. Capital One Bank USA, N.A., 2024 NY Slip Op. 31814(U), holding that a bank did not have a fiduciary duty to its customer . . . Continue reading Bank Does Not Have a Fiduciary Duty to its Customer
