Sometimes a fraud is so undetectable that even an expert hired to assist in due diligence activities altering personnel files to make it look as though dozens of exempt employees based elsewhere were actually Defendants moved to dismiss the fraud cause of action in plaintiff’s second amended complaint (“SAC”) by the Court was whether plaintiff satisfied the justifiable reliance element of its fraud cause of action

in numerous posts, plaintiffs alleging breach of contract and fraud risk having the latter cause of action First Department affirmed the dismissal of a fraud claim because it duplicated the contract cause of action The case also concerned the justifiable reliance element of a fraud cause of action and the duplication The motion court dismissed the fraud and aiding and abetting fraud causes of action ( here ). With regard to the fraud causes of action, the motion court granted the motion.

In the latest roundup, this Blog looks at three enforcement actions taken by the SEC against hedge funds Plaford and Lumiere, and the former FDA official, among others, for their misconduct, in an enforcement action Visium’s portfolio managers engaged in illegal asset mismarking and insider trading, and Ku failed to act

In its cause of action for gross negligence, plaintiff alleges that defendant failed to exercise "due albeit in slightly different language, of the "implied" contractual obligations asserted in the cause of action

two provisions of the rule, which requires financial advisers and other investment professionals to act contrast, investment advisors, are required to satisfy the requirements of the Investment Advisers Act violations of the fiduciary duty and prescribe any “means reasonably designed to prevent” violations of acts From the investors' perspective, especially retirees, such action would be welcome.

Plaintiff commenced the action seeking, among other things, a declaration that the firm was dissolved Prior to the commencement of the action, Capizzi, Brown, and Chiari had been named as defendants in an action brought by a fourth attorney upon that attorney’s resignation from a prior incarnation of the

A fraud-based cause of action may lie, however, where the plaintiff pleads a breach of a duty separate promise constitutes a representation of present fact collateral to the terms of the contract and is actionable Plaintiff asserted a number of causes of action for, inter alia , breach of the lease, fraud, negligent

Less than three weeks ago, this Blog wrote about an enforcement action brought by the Securities and Zach Avery, a Los Angeles-based actor known for low budget features such as “Trespassers” and “The White scheme and the misappropriation of investor funds – was at the heart of the SEC’s emergency enforcement action The SEC announced (here) the action on April 26, 2021.

The First Department in Arrowhead , affirmed the dismissal, without prejudice, of the action because retention of co-counsel with an in-state office did not cure the violation since the commencement of the action established by the First Department and held that a “violation of Judiciary Law § 470 does not render the actions

Plaintiff commenced the action seeking a declaration that the purpose of the lease had been frustrated

Sridhar and EIP asked Salamone to forebear from taking further action, promising payment on November , 88 N.Y.2d 413, 422 (1996) (noting that in fraud, “ he true measure of damage is indemnity for the actual

this Blog has noted in a previous post ( here ), to state a retaliation claim, both the Sarbanes-Oxley Act of 2002 (“SOX”) and the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank require plaintiffs to demonstrate, among other things, that they engaged in protected whistleblowing activity , that their employer knew they engaged in protected activity, and that there was a causal connection between the protected activity and an adverse employment action.