The First Department delivered a resounding victory Thursday to institutional investors who backed an $8.5 billion settlement of claims against Bank of America stemming from the 2008 mortgage crisis.
NY Commercial Litigation Insider
Applying the "special facts" doctrine, a divided four-judge panel of the First Department affirmed a ruling that rejected the dismissal of a property case where the buyer claimed the seller hid substantial defects in a 115-unit apartment building.
Although it was uncontested that an attorney for the lead plaintiff in a Commercial Division case had represented the defendant in a prior matter, the First Department said the two matters were not substantially related.
Macy's three-year-long lawsuit aimed at extracting damages from its leading competitor, J.C. Penney, for tortious interference with Macy's contract with Martha Stewart Living Omnimedia garnered a victory Thursday from a unanimous panel of the First Department.