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Posts Categorized: Damages

Posted: February 6, 2014

Motion to Dismiss May be Used to Limit Damages Theories Even if Claims Survive

On February 5, 2014, the Second Department issued a decision in Hecht v. Andover Associates Management Corp., 2014 NY Slip Op. 00632, discussing the dismissal of damages claims on a motion to dismiss. Hecht is one of the myriad cases relating to the Bernard Madoff Ponzi scheme. One of the defendants in Hecht, an independent auditor,... Read more »

Posted: January 17, 2014

Lost Profits Damages Not Available on Fraudulent Inducement Claim

On January 6, 2014, Justice Bransten of the New York County Commercial Division issued a decision in Maesa LLC v. Jouer Cosmetics LLC, 2014 NY Slip Op. 30026(U), dismissing a counterclaim for fraudulent inducement to the extent it sought lost profits damages. In Maesa, the parties entered into a contract under which the plaintiff manufactured vials in... Read more »

Posted: January 2, 2014

Decision Explores the Distinction Between Transaction Causation and Loss Causation

On December 24, 2013, Justice Kornreich of the New York County Commercial Division issued a decision in Loreley Fin. (Jersey) No. 4 Ltd. v. UBS Ltd., 2013 NY Slip Op. 33262(U), explaining the distinction between transaction causation and loss causation. In Loreley Fin., the court decided a motion for reconsideration of a decision dismissing a complaint... Read more »

Posted: November 18, 2013

Gross Negligence Claim Dismissed Based on Business Judgment Rule and Lack of Damages

On November 12, 2013, Justice Bransten of the New York County Commercial Division issued a decision in Phillips v. Hoffman, 2013 NY Slip Op. 51836(U), granting summary judgment and dismissing a gross negligence claim filed by a pro se plaintiff against a hedge fund manager who she claimed had mismanaged her money. Justice Bransten dismissed the... Read more »