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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 [...]
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 [...]
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 supposedly [...]
Although, as the title of this article suggests, some things should be fairly obvious, when enough money is at stake, people will still try to throw stuff at the wall to see if any of it will stick.
In a case that they brought in Federal Court in Upstate New York, Opto Generic Devices Inc. (“OGD”) [...]
It is truly a shame when the mistakes we make on the basis of trust come back to haunt us in such a personal and economical way.
But assuming the truth of the allegations in his complaint, that’s exactly what happened to Richard Snyder, who claims that he and the defendant (who was an acquaintance) had [...]
In light of my previous columns (see, e.g., Piercing the Corporate Veil – Critical Facts That You Will Need to Prove Your Case and, from earlier today, No Personal Liability For Corporate Fraud, Court Holds) setting forth some of the difficulties in piercing the corporate veil, here’s a “hot-off-the-presses” decision from a Federal judge in [...]
In a rare opinion that was handed down last week (and reported in today’s New York Law Journal), a New York Federal Court took the time to provide some detail into what actions constitute a violation of the Federal Computer Fraud and Abuse Act (“CFAA”). The statute, which carries both civil and criminal penalties, provides [...]
In an article that was published in yesterday’s New York Times, Harvard Professor Bill George suggests that by painting bankers as greedy and without regard for their fiduciary duties with a broad brush, “The danger is that we will punish healthy banks for the sins of failed banks,” when “Most bankers have behaved responsibly throughout [...]
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