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Daily Archives: Wednesday, May 26, 2021

Posted: May 26, 2021

Fraudulent Inducement Claim Survives Despite Defendant’s Argument That Plaintiff Failed to Exercise Due Diligence

On May 25, 2021, the First Department issued a decision in VXI Lux Holdco, S.A.R.L. v. SIC Holdings, LLC, 2021 NY Slip Op. 03294, upholding a fraudulent inducement claim despite the defendant’s argument that the plaintiff failed to exercise due diligence, explaining: Plaintiff alleges that the $3 million tax underpayment, which was an unaccounted expense,... Read more »