News & Analysis as of

Fraudulent Inducement

English High Court Of Justice Analyzes Standards Governing Fraudulent Inducement Claims In Reinsurance Disputes

by Carlton Fields on

The Court of Appeal of England and Wales approved the judgment of the trial court in a reinsurance dispute between Axa and Arab Insurance Group (Arig) related to certain insured energy construction risks. The trial court had...more

Court Affirms Conviction In Case Involving $126 Million Loan For Shopping Mall Transaction, Rejecting Argument That Sentence...

In a summary order on March 8, 2017, the Second Circuit (Katzmann, C.J. and Pooler and Lynch, J.) affirmed the conviction and sentence for wire fraud in United States v. Frenkel. The case attracted some public attention...more

Delaware Insider: Delaware Supreme Court Precludes Fraudulent Inducement of LLC Agreement and Employment Agreement as Defense in...

by Morris James LLP on

In the corporate context, Delaware has long recognized a public policy in favor of both indemnification and advancement. “Indemnification encourages corporate service by capable individuals by protecting their personal...more

Commercial Division Rejects Collateral Promise Argument as a Basis for a Fraudulent Inducement Claim

In a recent decision, Justice Anil Singh of the Commercial Division dismissed a counterclaim asserted by Visa against Wal-Mart for fraudulent inducement. According to Justice Singh, Visa’s allegations failed to satisfy the...more

Delivery Dilemma

Blue Art Limited, a UK company (“Blue Art”), is suing art dealer David Zwirner and his gallery, a contemporary art gallery in New York and London, for breach of contract and fraudulent concealment and inducement, regarding an...more

Appellate Court Holds HUD Regulations Don’t Provide Private Right of Action Unless Incorporated into Written Agreement

by Ballard Spahr LLP on

A federal appeals court recently decided that a plaintiff could not assert a claim against the issuer of a reverse mortgage for breach of regulations issued by the U.S. Department of Housing and Urban Development (HUD), when...more

A Ponzi Scheme Where One Investor Directly Paid Another

by Dorsey & Whitney LLP on

In the typical Ponzi scheme unscrupulous individuals induce investors to part with their cash based on a series of misrepresentations about the proposed investment. The investor money is then in part misappropriated and in...more

Career Securities Law Violator Pleads Guilty To Manipulation

by Dorsey & Whitney LLP on

The Manhattan U.S. Attorney’s Office secured a guilty plea in a stock manipulation case from a career securities law violator. The guilty plea is the fourth conviction for defendant John Galanis. U.S. v. Galanis, No....more

First Circuit Affirms Dismissal For CVS Caremark Under Public Disclosure Bar

by Dorsey & Whitney LLP on

The FCA’s public disclosure bar precludes liability when a relator’s allegations have been publicly disclosed in a list of statutorily enumerated sources. Last week, the First Circuit added to the growing jurisprudence both...more

Do Kanye’s Words Speak Louder than Tidal’s TOS?

A Chicago law firm has challenged Jay-Z and Kanye West, filing a class action complaint for violations of the California Business & Professions Code, fraudulent inducement and unjust enrichment in the Northern District of...more

Florida Court Says it’s Not Fraud When Misrepresentations are Made During Settlement Negotiations

When settling a case, litigators are naturally focused on avoiding “Round 2” of the litigation for their clients. Toward this goal, lawyers avoid drafting settlement agreements that include any sort of representations or...more

The Employment Exemption and Its Temporal Scope

by Ellis & Winters LLP on

Generally, N.C. Gen. Stat. § 75-1.1 does not apply to employer-employee disputes. Most courts have held that these disputes fail the “in or affecting commerce” test under the statute. In a recent decision, however, the...more

Superior Court Explains Reliance Disclaimer Clauses

by Morris James LLP on

A party to a contract may try to limit any future claims of fraudulent inducement by providing an anti-reliance clause in its contracts. As this decision explains, such clauses need to be carefully drafted and particularly...more

Federal Court Allows Terminated Employee to Proceed with Age Discrimination Claim Despite Her Execution of a Release of Claims

A recent Colorado federal court decision serves as a good reminder to employers on how not to obtain a release of claims from a terminated employee. For starters, don’t tell the employee her job is being eliminated and then...more

FRANCHISOR 101: Catch-all Disclaimers No Substitute for Untrained Salespeople

by Lewitt Hackman on

How strong are "non-reliance disclaimers" or "integration" or "merger" provisions in franchise agreements at protecting a franchisor when it really matters? Only so much, a New York court recently decided....more

Business Litigation Reporter October 2015

by Goodwin on

Goodwin Procter’s Business Litigation Reporter provides timely summaries of key cases and other developments within dedicated Business Litigation sessions and related courts throughout the country – courts within which...more

Clear Contractual Terms Prevail Over Equitable Principles in Bankruptcy Cases (Again)

by Dechert LLP on

Bankruptcy courts in the U.S. are widely viewed as favorable fora for debtors, trustees and creditors’ committees to pursue creative and difficult causes of actions against deep-pockets lenders and others in an attempt to...more

FRANCHISEE 101: Franchisee Keeps Case in Home Court Despite Forum Selection Clause

by Lewitt Hackman on

Rob & Bud's Pizza ("R&B") is a Papa Murphy's franchisee and owns and operates multiple Papa Murphy's Take 'n' Bake Pizza restaurants in Arkansas, Missouri and Kansas. In April 2014, R&B and other Papa Murphy's franchisees...more

Delaware Superior Court Explains Fraudulent Inducement Claims

by Morris James LLP on

ITW Global Investments Inc. v. American International Partners Capital Fund IV, L.P., C.A. No. 14C-10-236 JRJ (June 24, 2015) This decision explains several important aspects of Delaware law. First, a claim for fraud...more

Kentucky Supreme Court Reinforces Importance of Properly Incorporated Arbitration Provisions to Larger Agreements

by Wilson Elser on

The Kentucky Supreme Court recently held that an arbitration provision signed by a class of students upon their application and acceptance to a for-profit college was unenforceable because the enrollment agreement did not...more

Is That Covered - Misrepresentations In Sale of Life Insurance

A Pennsylvania appellate court on Tuesday affirmed a $300,000 judgment against Riversource Life Insurance Co. in a suit accusing the insurer and its agent of making fraudulent misrepresentations in the sale of a couple's...more

Texas Supreme Court Relaxes Its Grip on the Discovery Rule

by Gray Reed & McGraw on

The Texas Supreme Court – that elephants’ graveyard of claims and causes of action – has sided with a lessor-plaintiff who relied on the discovery rule to defeat a limitations defense. For the many with low expectations when...more

Southern District of Ohio Strikes Policyholders Class From Suit Against State Automobile Mutual Insurance Company

by Benesch on

In Schumacher v. State Auto. Mut. Ins. Co., No. 13-cv-00232, 2015 U.S. Dist. LEXIS 11857 (S.D. Ohio Feb. 2, 2015), the Southern District of Ohio struck class allegations from a putative class action alleging breach of the...more

Ambac Sues Countrywide For Alleged Fraud in Connection with $1.7 Billion in RMBS

On December 27, Ambac Assurance Corporation filed a complaint against several Countrywide entities and Bank of America Corporation in New York state court, seeking to recover at least $600 million in damages in connection...more

In Battle Of Apparel Companies, Court Compels Arbitration

by Carlton Fields on

In early September, a New York district court granted defendants United States Polo Association, Inc. (“USPA”) and Arvind Ltd.’s (“Arvind”) motion to compel arbitration. It further dismissed Ralph Lauren Corporation and its...more

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