On August 12, 2024, Justice Bannon of the New York County Commercial Division issued a decision in Denver Wewatta (Co) LLC v. Amtrust Title Ins. Co., 2024 NY Slip Op. 32847(U), holding that damages from fraud can include losses from foregone opportunities . . . Continue reading Fraud Damages Can Include Lost Opportunities
On July 12, 2024, Justice Chan of the New York County Commercial Division issued a decision in New Legend Debt by Meitav Dash L.P. v. Sam & Kate Prod., LLC, 2024 NY Slip Op. 32648(U), dismissing a claim for negligent misrepresentation for failure to allege a sufficiently close relationship between the plaintiff and the defendant . . . Continue reading Claim for Negligent Misrepresentation Dismissed for Failure to Allege Sufficiently Close Relationship Between the Parties
On May 16, 2024, Justice Crane of the New York County Commercial Division issued a decision in A Participations Ltd. V. Infinity Q Capital Mgmt. LLC, 2024 NY Slip Op. 31788(U), dismissing a fraud claim against an auditor for failure adequately to allege scienter . . . Continue reading Fraud Claim Against Auditor Dismissed for Failure Adequately to Allege Scienter
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 . . . Continue reading Fraud Claims Based on Future Performance Fail
On April 16, 2024, the First Department issued a decision in Ho v. Star Contrs., Inc., 2024 NY Slip Op. 02014, holding that a fraud claim based on alleged misrepresentations regarding the performance of a contract should be dismissed as duplicative of a breach of contract claim . . . Continue reading Fraud Claim Based on Misrepresentation Regarding Contract Performance Dismissed as Duplicative of Contract Claim
On April 4, 2024, the First Department issued a decision in Camelot Event Driven Fund v. Morgan Stanley & Co., LLC, 2024 NY Slip Op. 01866, holding that a Securities Act claim can be based on truthful but misleadingly incomplete disclosures . . . Continue reading Securities Act Claim Can be Based on Truthful but Misleadingly Incomplete Disclosures
On February 21, 2024, the Second Department issued a decision in Franklin D. Nastasi Trust v. Bloomberg, L.P., 2024 NY Slip Op. 00892, dismissing a fraud claim for insufficient allegations of due diligence . . . Continue reading Fraud Claim Dismissed for Insufficient Allegations of Due Diligence
On February 5, 2024, Justice Borrok of the New York County Commercial Division issued a decision in One Riv. Run Acquisition, LLC v. Milde, 2024 NY Slip Op. 30403(U), holding that a joint venturer’s agreement to seek funding does not create a special relationship . . . Continue reading Joint Venturer’s Agreement to Seek Funding Does Not Create a Special Relationship
On January 23, 2024, the First Department issued a decision in Eastern Effects, Inc. v. 3911 Lemmon Ave. Assoc., LLC, 2024 NY Slip Op. 00268, holding that a fraud claim was duplicative of a contract claim when it was based on an alleged misrepresentation of the intention to perform the terms of the contract . . . Continue reading Fraud Claim Duplicative of Contract Claim When it is Based on Alleged Misrepresentation of Intention to Perform Terms of Contract
On January 10, 2024, Justice Masley of the New York County Commercial Division issued a decision in Success Academy Charter Schs., Inc. v. Liberty Sq. Realty Corp., 2024 NY Slip Op. 30129(U), holding that a fraudulent inducement claim fails for lack of reasonable reliance . . . Continue reading Fraudulent Inducement Claim Fails for Lack of Reasonable Reliance
