Granite Partners, LP v. Bear, Stearns & Co. Inc.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• holding that breach of fiduciary duty claims in the securities context are preempted by the Martin Act
• finding that conclusory allegation without any relevant supporting facts insufficient to state a cause of action for tortious interference
• holding New York law applied to the affirmative defense of in pari delicto because New York law applied to the substantive claim
• applying Rule 9(b) to plaintiff's common law fraud claim and dismissing claim in part due to plaintiff's failure to sufficiently plead reliance
• dismissing plaintiffs' negligent misrepresentation claim as preempted by the Martin Act and separately dismissing plaintiffs' tortious interference with contract claim for failure to plead proximate cause
• rejecting parties’ argument that mortgage securities must be treated differently than Treasury securities; the industry standard MRA that applies generally to all repo transactions does not distinguish between Treasury and other types of securities

Source: CourtListener parenthetical corpus (CC0).