The Special Facts Doctrine and Loss Causation
- Jan 10 2024
By: Jeffrey M. Haber In many of the fraud cases that we examine, the plaintiff alleges that the defendant made an affirmative misrepresentation of fact upon which he/she relied. As we …
Category: Omission
Securities Act Claims Dismissed as Time-Barred and Otherwise Insufficient
- Aug 28 2023
By: Jeffrey M. Haber On March 20, 2018, the United States Supreme Court decided Cyan, Inc. v. Beaver County Employees Retirement Fund, in which it unanimously held that the Securities …
Fraud Notes: Duplication, Failure to Identify Misrepresentations of Fact, and Fraudulent Concealment
- Aug 24 2023
By: Jeffrey M. Haber On August 23, 2023, the Appellate Division, Second Department issued two decisions that briefly touched upon fraud causes of action: Hershman v. Bank of N.Y. Mellon, …
Omission Case Dismissed Because Defendants Had No Duty to Disclose
- Jan 23 2023
By: Jeffrey M. Haber Typically, when a plaintiff claims to have been defrauded, he/she typically argues that the defendant made an affirmative misrepresentation of fact. Fraud does not, however, always …
Omissions Save Fraud-Based Counterclaims From Dismissal
- Oct 3 2022
By: Jeffrey M. Haber In past articles, we have noted the importance of identifying the statements claimed to be false and misleading. In this regard, we talked about the need …
Fraud by Omission
- Jan 13 2021
When a person claims fraud, he/she typically claims that the alleged wrongdoer made an affirmative misrepresentation of fact. Fraud does not, however, always concern an affirmative statement. Sometimes a person …
Fantasy Baseball and the Sign-Stealing Scandal: Court Dismisses Class Action Lawsuit Brought By Fantasy Baseball Fans
- Apr 17 2020
As baseball fans know, Major League Baseball (“MLB”) was rocked by the sign-stealing scandal involving the Houston Astros and, to a somewhat lesser extent, the Boston Red Sox. Not only …
Fraud Notes: Scienter and The Failure to Allege Falsity
- Mar 5 2020
Many cases involving an alleged fraud typically rise and fall on the reliance element of the cause of action. Sometimes, the issue before the court is the state of mind …
Fraudulent Concealment and the Failure to Allege a Duty to Disclose
- Jul 25 2019
On July 18, 2019, Justice Joel M. Cohen of the Supreme Court, New York County, Commercial Division, decided Shyer v. Shyer, 2019 N.Y. Slip Op. 32138(U) (Sup. Ct., N.Y. County …
Post Cyan, New York State Court Dismisses Action Under the Securities Act of 1933
- Jul 24 2019
Following the stock market crash in 1929, Congress enacted the Securities Act of 1933 (the “1933 Act”) and the Securities and Exchange Act of 1934 (the “1934 Act”). Cyan, Inc. …
