Disclaimers and Justifiable Reliance – What a Pair!
- Dec 6 2021
By Jeffrey M. Haber As readers of this Blog know, to recover damages for fraud, a plaintiff must allege “a misrepresentation or a material omission of fact which was false …
Category: Fraud
Absence of the “Who”, “What”, “When” and “How” of An Alleged Fraud Warrants Dismissal of the Claim
- Nov 22 2021
By: Jeffrey M. Haber In past articles, we have discussed the necessity of pleading the “who”, “what”, “when” and “how” of an alleged fraud. See, e.g., here. In many respects, …
Enforcement News: SEC Charges California Company and its Principals With Operating a Ponzi-Like Scheme
- Nov 3 2021
By: Jeffrey M. Haber This Blog has written numerous articles about Ponzi schemes and the enforcement proceedings that resulted from them. See, e.g., here, here, here, here, and here. In a Ponzi scheme, the operator creates an investment program …
First Department Holds Letter Agreement with Releases, Disclaimers and Waivers of Information Bars Fraud-Based Claims
- Oct 6 2021
By: Jeffrey M. Haber In prior articles, we discussed the impact a disclaimer clause in a contract can have on a fraud claim. See, e,g., here. Namely, a disclaimer clause can …
Enforcement News: SEC Charges Georgia Investment Adviser and Its Principal with Operating $110 Million Ponzi Scheme
- Sep 13 2021
By: Jeffrey M. Haber This Blog has written numerous articles about Ponzi schemes and the enforcement proceedings that resulted from them. See, e.g., here, here, here and here. In a Ponzi scheme, the operator creates an investment program …
Enforcement News: Investment Adviser Charged with Operating a Fraudulent Scheme and Misappropriating Investor Assets
- Aug 25 2021
By Jeffrey M. Haber An investment adviser is a fiduciary, and as such is held to the highest standard of conduct and must act in the best interest of his/her …
Enforcement News: SEC Charges International Participants with Perpetrating a Long-Running Global Pump-and-Dump Scheme
- Aug 11 2021
“Pumping a few squirts of vanilla hazelnut syrup into your latte—nothing wrong with that. Pumping up a coffee stock with hype and false statements? That’s illegal, and the Securities and …
SEC Issues Investor Alert To Warn Investors About Fake Brokers And Investment Advisers
- Aug 4 2021
On July 27, 2021, the Securities and Exchange Commission’s (the “SEC” or the “Commission”) Office of Investor Education and Advocacy (“OIEA”) issued an investor alert (here) with the FBI Criminal …
Duplication or No Duplication? That is the Question Decided by The Second Department
- Jul 12 2021
A recurring theme in the jurisprudence concerning claims of fraud and breach of contract is duplication – that is, whether the fraud claim duplicates the breach of contract claim. It …
Enforcement News: Spotlight on “Cherry-Picking”
- Jun 21 2021
Cherry picking is the process of selecting securities to invest in by mimicking the trading of other investors (both individual and institutions) who are successful over a long period of …
