August 21, 2018
Dear Friends and Colleagues,
New York’s economic loss rule, which acts as a check on asserting tort claims for purely economic damages, has its most straightforward application in products liability and construction cases, but has been applied in a broad array of cases. In our latest New York Law Journal article, "In 'Ambac,' Judge Attempts to Make Sense of New York's Economic Loss Rule," we discuss a recent SDNY decision by Judge William H. Pauley III in Ambac v. U.S. Bank, that considers the economic loss rule in the context of an RMBS case, providing an informative lens for viewing the interplay between contract and breach of fiduciary duty claims under New York law. We hope you find it interesting.
Ed Spiro and
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