That’s exactly the question that was recently posed, or in legal terms, “certified,” to New York State’s highest court by the Federal system’s Second Circuit Court of Appeals. In Bessemer Trust Company, N.A. v. Branin, the plaintiff sued one of its former executives in federal court for damages they allegedly sustained when he solicited his [...]
They may have been naive, but they’re entitled to a shot at vindication before a jury, held New York’s Court of Appeals in DDJ Management LLC v. Rhone Group, LLC. In this case, the plaintiffs sued to recover their losses after learning that the $4o million loans they extended to the defendants turned out to [...]
Let there be no mistake: if you’re lying in order to stonewall your adversary, and it’s obvious to a Federal Judge, you do so at your own peril. That is the clear implication of the Court’s holding in Shcherbakovskiy v. Seitz, et al. In that case, the defendant counterclaimed against the plaintiff, suing to recover [...]
I’ve spoken with many people who, when confronted with the possibilities of starting their own business, hesitate – and not a small bit – because of their fear that they will forfeit their severance package from their current employer. Stated in slightly different fashion, they are concerned that any effort they expend to start a [...]
In a June 15 decision in Callisto Pharm. Inc. v. Picker, New York’s Appellate Division, First Department affirmed the trial court’s ruling that dismissed the plaintiff’s claims that its employee was secretly negotiating with their business partner, and therefore liable in breach of contract, fraud and breach of fiduciary duty. In addition, the plaintiff claimed [...]
In my earlier blog post “Why Fraudulent Concealment Claims Are So Tough to Win in New York,” I pointed out that one of the challenges of these claims is posed by contractual language that the purchaser signs stating that they didn’t rely on any representations by the seller. As a New York trial court recently [...]
Under New York law, when a seller deliberately hides information that is critical to the buyer’s decision to invest or not to invest, this is generally referred to as “fraudulent concealment.” A word of caution is in order, however: this type of claim is particularly challenging because in addition to the traditional elements of proof [...]
In a recent decision, New York’s Appellate Division, Second Department showed once again just how powerful New York’s insurance lobby is, and how, under the current structure of the law in New York, an insurer has almost no incentive to protect its clients – the insureds – by negotiating claims in good faith. Quite the [...]
Following up on my earlier post, “Why Many (If Not Most) Business Fraud Claims Are Dismissed By New York’s Courts,” an April 9 decision from a New York County trial judge that is scheduled to appear in tomorrow’s New York Law Journal sets forth a very important – and common – reason that so many [...]
Reading this decision, I can’t help but wonder what the plaintiff or his attorney were thinking when they brought this breach of oral agreement and breach of fiduciary duty lawsuit. In Malaty v. Malaty, the plaintiff Naguib Malaty sued his brother to compel the turnover of the defendant’s interest in a Brooklyn property that was [...]