Justifiable Reliance: Even the Accountant Was Duped
- May 26 2021
Sometimes a fraud is so undetectable that even an expert hired to assist in due diligence activities can be the victim of fraud. That’s what happened in VXI Lux Holdco, …
Category: Sophisticated Plaintiff
Publicly Available Information Undermines Plaintiff’s Claim of Justifiable Reliance on Alleged Misrepresentation
- Dec 12 2018
As readers of this Blog know, one of the elements of a fraud claim is “justifiable reliance.” In Ambac Assurance Corp. v. Countrywide Home Loans, Inc., 31 N.Y.3d 569 (2018), …
Fraud Claim Dismissed Because Sophisticated Businessman Failed to Plead Justifiable Reliance
- Nov 28 2018
Plaintiffs claiming that they have been the victims of fraud must satisfy heightened pleading standards to enter the courthouse. Under the New York Civil Practice Law and Rules, CPLR 3016(b), …
