KNIGHT SECURITIES, L.P. v. FIDUCIARY TRUST COMPANY


5 A.D.3d 172 (2004)

774 N.Y.S.2d 488

KNIGHT SECURITIES, L.P., Respondent, v. FIDUCIARY TRUST COMPANY, Appellant, et al., Defendants.

Appellate Division of the Supreme Court of the State of New York, First Department.

March 9, 2004.


Relying primarily on summary judgment cases, Fiduciary contends that plaintiff's fraud, aiding and abetting fraud, negligent misrepresentation and promissory estoppel claims should have been dismissed for lack of reasonable reliance. However, on a motion to dismiss for failure to state a cause of action, "a plaintiff . . . need only plead that he relied on misrepresentations made by the defendant . . . since the reasonableness of his reliance [generally] implicates factual...

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