On July 13, 2023, Justice Reed of the New York County Commercial Division issued a decision in Youyi Chen v. 215 Chrystie Venture, LLC, 2023 NY Slip Op. 50716(U), holding that a promoter has a duty to disclose material facts . . . Continue reading Promoter Has Duty to Disclose Material Facts
On June 29, 2023, Justice Chan of the New York County Commercial Division issued a decision in Emigrant Bus. Credit Corp. v. Hanratty, 2023 NY Slip Op. 32156(U), holding that a fraudulent inducement claim based on statements of present fact was not duplicative of a breach of contract claim . . . Continue reading Fraudulent Inducement Claim Based on Statements of Present Fact Not Duplicative of Contract Claim
On June 29, 2023, the First Department issued a decision in EPAC Tech. Ltd. v. Interforum S.A., 2023 NY Slip Op. 03543, holding that a lack of due diligence bars a fraudulent inducement claim . . . Continue reading Lack of Due Diligence Bars Fraudulent Inducement Claim
On May 23, 2023, Justice Reed of the New York County Commercial Division issued a decision in Harbinger Capital Partners II, LP v. Apollo Global Mgt., LLC, 2023 NY Slip Op. 50503(U), holding that a plaintiff was on inquiry notice of a fraud claim notwithstanding the defendant’s denials . . . Continue reading Plaintiff on Notice of Fraud Claim Notwithstanding Defendant’s Denials
On May 25, 2023, the First Department issued a decision in SureFire Dividend Capture, LP v. Industrial & Commercial Bank of China Fin. Servs. LLC, 2023 NY Slip Op. 02841, holding that a fraud claim relating to a contract or note can be assigned, but that the agreement transferring the claim must show an intent to transfer the claim . . . Continue reading Fraud Claim Relating to a Contract or Note May be Assigned, But Assignment Agreement Must Show Intent to Transfer
On May 25, 2023, the First Department issued a decision in Hobish v. AXA Equit. Life Ins. Co., 2023 NY Slip Op. 02825, holding that the punitive damages available under GBL 349 are limited to those provided in the statute . . . Continue reading Punitive Damages Under GBL 349 Claim Limited to Those Provided by Statute
On April 20, 2023, Justice Borrok of the New York County Commercial Division issued a decision in Atlantic Specialty Ins. Co. v. Landmark Unlimited, Inc., 2023 NY Slip Op. 31308(U), declining to dismiss a claim for prima facie tort . . . Continue reading Court Declines to Dismiss Claim for Prima Facie Tort
On January 24, 2023, Justice Livote of the Queens County Commercial Division issued a decision in Simply Funding, LLC v. Brainwave Personal Computing, LLC, 2023 NY Slip Op. 30261(U), dismissing a GBL 349 claim because the alleged misconduct was not consumer-oriented . . . Continue reading GBL 349 Claim Dismissed Because Alleged Misconduct Was Not Consumer-Oriented
On January 10, 2023, Justice Masley of the New York County Commercial Division issued a decision in Lola Unlimited LLC v. KME Holdings LLC, 2023 NY Slip Op. 30172(U), dismissing a fraud claim due to the plaintiff’s failure to exercise due diligence . . . Continue reading Fraud Claim Dismissed Due to Plaintiff’s Failure to Exercise Due Diligence
On January 19, 2023, the First Department issued a decision in HOV Servs., Inc. v. ASG Tech. Group, Inc., 2023 NY Slip Op. 00237, holding that a plaintiff could not assert a fraudulent inducement claim based on an omission when the defendant had no duty to the plaintiff . . . Continue reading Fraudulent Inducement Claim Based on Omission Fails for Lack of Duty to Plaintiff
