Revisiting Reasonable Reliance in Credit Fraud Cases

, New York Law Journal


Michael C. Hefter and Daniel S. Meyers, partners at Bracewell & Giuliani, write: Decisions issued in the wake of the Court of Appeals' holding in 'DDJ Management v. Rhone' demonstrate that while in some cases, lower courts have interpreted the decision as lowering the threshold of reasonable reliance that must be pled by sophisticated parties, courts will nevertheless readily dismiss claims if the plaintiff has not demonstrated that, prior to entering into the relevant transaction, it took reasonable steps to protect itself against deception.

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