Fraud Notes: Two Cases and The Examination of Scienter
- May 29 2024
By: Jeffrey M. Haber To state a cause of action for fraud, a plaintiff must allege “a material misrepresentation of a fact, knowledge of its falsity, an intent to induce …
Category: Fraud
Failure to Identify a Statement Claimed to Be False and Text Messages as Documentary Evidence
- May 6 2024
By: Jeffrey M. Haber In Nosegbe v. Charles, 2024 N.Y. Slip Op. 02406 (4th Dept. May 3, 2024) (here), the Appellate Division, Fourth Department affirmed the dismissal of a fraud …
Statute of Limitations for Fraud Claims and Conclusory vs. Particularized Allegations
- Apr 29 2024
By: Jeffrey M. Haber In Lane’s Floor Coverings & Interiors, Inc. v. DiLalla, 2024 N.Y. Slip Op. 02257 (1st Dept. Apr. 25, 2024) (here), the Appellate Division, First Department considered …
Can an Accountant Hired to Perform “Compilation Services” be Shielded from Liability for the Alleged Improper Activities of a Corporate Officer?
- Apr 8 2024
By Jeffery Haber There are four primary levels of services provided by an accountant with respect to an entity’s financial statements: preparation, compilation, review, and audit. A preparation engagement is …
Enforcement News: SEC Files Complaint in Connection with a $300 Million Ponzi Scheme and Affinity Fraud
- Mar 25 2024
By: Jeffrey M. Haber On many occasions, we have written about Ponzi schemes that have been the subject of enforcement actions brought by, and/or settlements with, the Securities and Exchange …
The Duplication Doctrine and Another Dismissal of a Fraud Claim
- Mar 20 2024
By: Jeffrey M. Haber As we have often explained in the articles in which we have examined the duplication doctrine, fraud claims that are nothing more than contract claims dressed up …
Publicly Available Information, Justifiable Reliance and The Caveat Emptor Doctrine
- Mar 14 2024
By: Jeffrey M. Haber The common law doctrine of caveat emptor is a well-accepted rule of law in New York. Under the doctrine, the courts will not impose liability on …
Collective Alter Ego Liability Theory Rejected By First Department
- Mar 11 2024
By: Jeffrey M. Haber In commercial and business litigation, it is common for plaintiffs to assert claims against a business entity for wrongs committed by a corporate entity. Often, plaintiffs …
Information and Belief Allegations Do Not Suffice to State a Claim for Fraud
- Feb 12 2024
By: Jeffrey M. Haber In Rosenberg v. OSG, LLC, 2024 N.Y. Slip Op. 00691 (1st Dept. Feb. 8, 2024) (here), the Appellate Division, First Department underscored the insufficiency of pleading …
Veil Piercing and Fraudulent Transfers Under the (New) DCL
- Jan 31 2024
By: Jeffrey M. Haber In 245 E. 19 Realty LLC v. 245 E. 19th St. Parking LLC, 2024 N.Y. Slip Op. 00368 (1st Dept. Jan. 30, 2024) (here), the Appellate Division, …
