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Challenging Releases And Settlements Based On Fraudulent Inducement Is A Challenge - Criminal Law

In my July 8, 2019 post, I reviewed the law on challenging releases and settlements based upon alleged claims of fraud and fraudulent inducement. ....

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The Duty to Disclose Third-Party Offers Amidst Buy-Out Negotiations, Revisited | Farrell Fritz, P.C.

Now there’s a fourth,
Bak v Rostek, 2020 NY Slip Op 33142(U) [Sup Ct Kings County Sept. 25, 2020], in which a 47.5% member of a single-asset realty-holding LLC sold his membership interest to the other 52.5% member for around $900,000 based on a $1.9 million valuation assigned by the buying member. One month later, the buying member sold the LLC’s property to a third-party buyer for $2.9 million. After learning of the sale, the 47.5% member sued the other member for damages equal to the delta between what he received in the buyout and 47.5% of the net proceeds from the $2.9 million sale, arguing primarily that the defendant breached fiduciary duty by failing to disclose third-party offers that were tendered shortly before the buyout. ....

New York , United States , Adam Bak , Pappasv Tzolis , Krzysztof Rostek , Bogdan Chmielewski , Arfav Zamir , Justice Ruchelsman , Brooklyn Greenpoint , Bakv Rostek , Brooklyn Commercial Division Justice Leon Ruchelsman , York Court , Court Decision , New York Court , Centro Empresarial , America Movil , Operating Agreement , Rostek Managing Member , Managing Member , Had Bak , புதியது யார்க் , ஒன்றுபட்டது மாநிலங்களில் , ஆடம் பாக் , போக்டன் சமியிலேவ்ஸ்கி , ப்ரூக்ளின் கிரீன் பாயிண்ட் , யார்க் நீதிமன்றம் ,