MBIA INSURANCE CORPORATION v. LYNCH

4163, 601324/09.

81 A.D.3d 419 (2011)

916 N.Y.S.2d 54

MBIA INSURANCE CORPORATION et al., Appellants-Respondents, v. MERRILL LYNCH et al., Defendants, and MERRILL LYNCH INTERNATIONAL, Respondent-Appellant.

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

Decided February 1, 2011.


Plaintiffs' fraud-related claims failed to state a cause of action in light of the specific disclaimers in the contracts, executed following negotiations between the parties, all sophisticated business entities, providing that plaintiff Lacrosse would not rely on defendants' advice, that it had the capacity to evaluate the transactions, and that it understood and accepted the risks (see Capital Z Fin. Servs. Fund II, L.P. v Health Net, Inc., 43...

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