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OMNIVERE, LLC v. FRIEDMAN

9837. 154544/16.

174 A.D.3d 443 (2019)

101 N.Y.S.3d 840

2019 NY Slip Op 05494

OmniVere, LLC, Defendant-Respondent, v. Saul N. Friedman et al., Defendants, and Intelligent Discovery Management LLC et al., Plaintiffs-Appellants. Intelligent Discovery Management LLC et al., Third-Party Plaintiffs-Appellants, v. OmniVere Holding Company, LLC, et al., Third-Party Defendants-Respondents.

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

Decided July 9, 2019.

The court correctly dismissed the claims of Intelligent Discovery Management, LLC and Balint Brown & Basri, LLC (IDMB) for damages resulting from alleged misrepresentations and fraudulent conduct relating to equity IDMB received in a transaction with Omnivere. IDMB failed to sufficiently allege justifiable reliance on the alleged misrepresentations regarding Omnivere's financial projections and financing since IDMB had the means to discover the true nature of the transaction...

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