KRAHMER v. CHRISTIE'S INC.

C.A. No. 606-N.

911 A.2d 399 (2006)

Johannes R. KRAHMER and Betty P. Krahmer, Petitioners, v. CHRISTIE'S INCORPORATED, Respondent.

Court of Chancery of Delaware, New Castle County.

Decided: October 17, 2006.


Attorney(s) appearing for the Case

Victor F. Battaglia, Sr., Esquire, Biggs and Battaglia, Wilmington, Delaware Attorneys for the Petitioners.

Melanie K. Sharp, Esquire, Seth J. Reidenberg, Esquire, Young Conaway Stargatt & Taylor LLP, Wilmington, Delaware; Michael E. Salzman, Esquire, Russell W. Jacobs, Esquire, Hughes Hubbard & Reed, LLP, New York, New York, Attorneys for the Respondent.


OPINION

LAMB, Vice Chancellor.

The purchasers of a painting acquired at auction in 1986 filed a petition for rescission against the auction house. The purchasers allege that the auction house committed fraud by intentionally concealing that the painting was not an original work of the artist. The auction house now moves for summary judgment. The record contains no evidence from which the court can reasonably infer scienter on the part of the auction...

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