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Daily Archives: Friday, March 27, 2020

Posted: 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 Next Fabrics, LLC v. Jomar Inc., 2020 NY Slip Op. 30693(U), holding that a fraud claim based on misrepresentations regarding a company’s incorporation status failed for lack of due diligence because the company’ status was publicly-available, explaining: The... Read more »