Murphy, Del La Hoz and Boyd Victorious in Trial

In an action alleging fraud, unjust enrichment and conversion in connection with the sale of a $14 million promissory note, Casey Murphy, Catalina De La Hoz, and J’Naia Boyd obtained a defense verdict on all claims in a trial before the Hon. Timothy S. Driscoll of the Commercial Division, Nassau County.  The Court rejected plaintiff’s claims that the $1.8 million paid for the assignment of the note was the product of misrepresentations, holding that plaintiff failed to prove “any indicia of fraud,” as he conceded under cross-examination that he acquired the note with knowledge that it was the subject of litigation in a separate bankruptcy proceeding. The Court further held that plaintiff failed to establish that the funds had been converted insofar as it was a high-risk and potentially high-return investment, and plaintiff was a sophisticated investor.  Rivkin Radler LLP received the case, which was then already two years old, merely two weeks before trial and the verdict saved the client from a potential judgment of $2.3 million, including statutory interest.