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FRIED v. LEHMAN BROS. REAL ESTATE ASSOCIATES. III, L.P.

5185. 651461/11.

156 A.D.3d 464 (2017)

67 N.Y.S.3d 145

2017 NY Slip Op 08638

BARBARA J. FRIED et al., Appellants, v. LEHMAN BROTHERS REAL ESTATE ASSOCIATES III, L.P., et al., Respondents, et al., Defendants.

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

Decided December 12, 2017.

The first and second causes of action, alleging fraudulent misrepresentation and gross negligence in misrepresentation, failed to satisfy the pleading requirements of CPLR 3016 (b). The allegations of scienter here were not pleaded with the requisite particularity, but are conclusory, and scienter may not reasonably be inferred from the circumstantial evidence relied on by plaintiffs (see Giant Group v Arthur Andersen LLP,<...

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