Israeli Investor Fraud Suit Can Go On: NY Top Court

Law360, New York (December 20, 2011, 8:07 PM EST) -- New York's highest court on Tuesday denied a group of real estate syndicators an appeal to dismiss claims of fiduciary duty in a suit lodged by Israeli investors alleging the syndicators inflated property prices by taking a secret 15 percent commission.

In a memorandum, the New York Court of Appeals affirmed an appeals court's decision that the real estate syndicators may have had a fiduciary relationship with Israeli investors, and therefore should not dismiss allegations that the syndicators should have been more forthcoming on commission charges....
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