Basis Yield Alpha Fund Master v. Stanley
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Friedman, J.
This appeal presents the question of whether a sophisticated investor has sufficiently alleged that it justifiably relied on credit ratings of securities that defendants, the organizers of the offering, allegedly had manipulated and otherwise knew, from nonpublic information, to be inaccurate. We hold that the element of reasonable reliance has been sufficiently pleaded in support of plaintiff’s fraud and fraudulent concealment causes of action, and therefore affirm the denial of defendants’ motion to dismiss those claims.
The amended complaint alleges that, in…
2Cases cited17 opinions
- Danann Realty Corp. v. HarrisNew York Court of Appeals · 1959
- DDJ Management, LLC v. Rhone Group LLCNew York Court of Appeals · 2010
- Vanship Holdings Limited v. Energy Infrastructure Acquisition Corp.Appellate Division of the Supreme Court of the State of New York · 2009
- Abu Dhabi Commercial Bank v. Morgan Stanley & Co.District Court, S.D. New York · 2009
- Jana L. v. West 129th Street Realty Corp.Appellate Division of the Supreme Court of the State of New York · 2005
12 more not listed; retrieve them via the Exa API.
3Cited by19 opinions
- Morgan Stanley Mortgage Loan Trust 2006-13ARX Ex Rel. U.S. Bank National Ass'n v. Morgan Stanley Mortgage Capital Holdings LLCAppellate Division of the Supreme Court of the State of New York · 2016
- Ambac Assurance Corp. v. Countrywide Home Loans, Inc.Appellate Division of the Supreme Court of the State of New York · 2017
- IKB International S.A. v. StanleyAppellate Division of the Supreme Court of the State of New York · 2016
- 41-47 Nick LLC v. Odumosu, Civil Court Of The City Of New York, New York County2024
- Kato Intl. LLC v. Gerard Fox Law, P.C.Appellate Division of the Supreme Court of the State of New York · 2021
14 more not listed; retrieve them via the Exa API.