Global Minerals & Metals Corp. v. Holme
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Catterson, J.
In this action, plaintiff Global Minerals and Metals Corp., a closely held corporation, alleges it was fraudulently induced by one of its four shareholders into signing a general release and severance agreement worth $15 million. For the reasons set forth below, we affirm the order of the motion court granting the defendants’ motion for summary judgment and dismissing the complaint on the grounds that the plaintiffs reliance on the alleged misrepresentations was unreasonable, and the plaintiff failed to fulfill its duty to investigate.
Codefendant James Holme…
2Cases cited26 opinions
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- Channel Master Corp. v. Aluminium Limited Sales, Inc.New York Court of Appeals · 1958
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- Alpert v. 28 Williams Street Corp.New York Court of Appeals · 1984
- Prudential-Bache Securities, Inc. v. Citibank, N. A.New York Court of Appeals · 1989
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