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CIFG ASSUR. N. AM., INC. v. GOLDMAN, SACHS & CO.

9147-652286/11, 9148.

106 A.D.3d 437 (2013)

966 N.Y.S.2d 369

2013 NY Slip Op 3271

CIFG ASSURANCE NORTH AMERICA, INC., Appellant-Respondent, v. GOLDMAN, SACHS & CO. et al., Respondents-Appellants, and M&T BANK, Respondent.

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

Decided May 7, 2013.

In this action by plaintiff arising from its financial guaranty of a residential mortgage-backed securities investment, the cause of action for fraudulent inducement should not have been dismissed. Plaintiff conducted its own due diligence, utilizing an outside consultant to analyze the characteristics of the underlying loans (cf. Barneli & Cie SA v Dutch Book Fund SPC, Ltd,<...

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