Fraud and the Sale of An Annuity Policy
- Mar 22 2021
Fraud in the sale of securities. Such an allegation is often governed by an arbitration clause, requiring the parties to resolve their dispute before a FINRA tribunal. Not all investment …
Category: Fraud
Disclaimer of Liability and No Reliance on Representation Clauses Revisited
- Mar 15 2021
It has long been the law in New York that a party’s disclaimer of reliance on extra-contractual representations and omissions will not preclude a fraudulent inducement claim unless: (1) the …
Fraud Complaint That Seeks Damages Different From Contract Found Not To be Duplicative of Contract Claim
- Mar 10 2021
In the past, this Blog has examined cases in which the plaintiff brings a breach of contract claim and fraud claim in the same proceeding. [E.g., here, here, here, and …
Enforcement News: SEC Charges Seven Individuals and A Technology Company for Perpetrating A Scheme to Gain Control of a “Penny Stock” Company and Defraud Investors
- Mar 3 2021
Concealment of material information and market manipulation. Both forms of improper conduct were on display in Securities and Exchange Commission v. Airborne Wireless Network, 21-cv-01772 (S.D.N.Y.) (here), a case we …
Fraud and the Effort to Obtain an E-2 Visa
- Mar 1 2021
“You can’t have fraud if you disclose it,” said the motion court in Ibarrondo v. Evans, 2020 N.Y. Slip Op 30051(U) (Sup. Ct., N.Y. County Jan. 6, 2020) (here), aff’d, …
Sometimes The Facts Are Just Not On Your Side
- Feb 24 2021
As the title of this article suggests, there are times in litigation where the facts simply do not support a claim or defense advanced by one or more of the …
The Actionability of Corporate Puffery and Statements of Opinion
- Feb 17 2021
“We make premium widgets with the highest quality metals.” Assume for the moment, the widgets are made from alloys that are prone to imperfections. Also assume that the speaker sincerely …
Enforcement News: SEC Charges Investment Adviser and Others With Running a Ponzi-Like Scheme to Defraud Over 17,000 Retail Investors
- Feb 15 2021
In mid-December 2020, the Securities and Exchange Commission (“SEC” or “Commission”) issued an investor alert (here), warning of “Investment Scam Complaints on the Rise.” In the alert, the SEC urged …
Fraud Notes: The Failure to Investigate When The Facts Require An Investigation, Disclaimers and Actionable Misrepresentations
- Jan 20 2021
On January 19, 2021, the Appellate Division, First Department issued three decisions involving claims of fraud. See United Natural Foods, Inc. v. Goldman Sachs Grp., 2021 N.Y. Slip Op. 00276 …
Allegations That Defendant Lacked a General Intent to Perform Is Insufficient to Support Fraud Claim
- Jan 18 2021
It has long been held that “promissory statements as to what will be done in the future are not actionable.” Adams v. Clark, 239 N.Y. 403, 410 (1925). However, when the …
