Blogs

Posts Categorized: Fraud/Misrepresentation

Posted: August 31, 2018

Fraud Claim Dismissed for Lack of Reasonable Reliance

On August 15, 2018, Justice Sherwood of the New York County Commercial Division issued a decision in Solomon Capital, LLC v. Lion Biotechnologies, Inc., 2018 NY Slip Op. 31977(U), dismissing a fraud claim for lack of reasonable reliance, explaining: With respect to the first and second alleged misrepresentations, that Sharbat had formerly run a U.S. public… Read more »

Posted: August 12, 2018

Fraud Claim Dismissed as Duplicative of Contract Claim: No Separate Damages Alleged

On August 6, 2018, Justice Masley of the New York County Commercial Division issued a decision in TJ PRP LLC v. Rag & Bone Holdings LLC, 2018 NY Slip Op. 31880(U), dismissing a fraud claim as duplicative of a contract claim, explaining: A fraud claim that arises from the same facts as an accompanying contract… Read more »

Posted: August 2, 2018

Fraud Claim Held Untimely Even Under Two-Year Discovery Rule

On July 23, 2018, Justice Platkin of the Albany County Commercial Division issued a decision in Essepian v. United Group of Companies, Inc., 2018 NY Slip Op. 51153(U), holding that a fraud claim was untimely even under New York’s two year discovery rule, explaining: Dismissal is warranted under CPLR 3211(a) (5) where the movant establishes… Read more »

Posted: June 29, 2018

FTC Rule Does Not Preempt General Business Law Claims Against Broadband Providers

On June 21, 2018, the First Department issued a decision in People v. Charter Communications, Inc., 2018 NY Slip Op. 04644, holding that a Federal Trade Commission rule did not preempt General Business Law claims, explaining: This civil enforcement action alleges that in the marketing of broadband Internet service defendants have engaged and continue to… Read more »

Posted: June 15, 2018

Martin Act Claims are Subject to Three-Year Statute of Limitations

On June 12, 2018, the Court of Appeals issued a decision in People v. Credit Suisse Sec. (USA) LLC, 2018 NY Slip Op. 04272, holding that Martin Act claims have a three year statute of limitations, explaining: The first issue before us is whether Martin Act claims are governed by CPLR 214(2), imposing a three-year… Read more »

Posted: April 22, 2018

Fraudulent Inducement Claim Dismissed on Summary Judgment for Lack of Reasonable Reliance

On April 9, 2018, Justice Kornreich of the New York County Commercial Division issued a decision in INTL FCStone Markets, LLC v. Corrib Oil Co. Ltd., 2018 NY Slip Op. 30646(U), dismissing a fraudulent inducement claim on summary judgment for lack of reasonable reliance, explaining: Corrib also cannot maintain a cause of action for fraud… Read more »

Posted: April 19, 2018

Fraudulent Inducement Claim Against Lawyer Upheld; Client Was Reasonable in Relying on Counsel Rather Than Reading Agreement Closely

On April 10, 2018, the First Department issued a decision in Suttongate Holdings Ltd. v. Laconm Management N.V., 2018 NY Slip Op. 02424, upholding a fraudulent inducement claim against a lawyer, explaining: The allegations of the complaint state a cause of action for fraudulent inducement. The well settled principle relied on by David that a… Read more »