JF Capital Advisors, LLC v. Lightstone Group, LLC

Plaintiff filed an amended complaint claiming to have rendered to Defendants financial advisory services for nine project groups of investment opportunities. Plaintiff sought recovery based on theories of quantum meruit and unjust enrichment. Defendants moved to dismiss the amended complaint, contending that the claims for compensation for the advisory services Plaintiff allegedly performed were subject to the statute of frauds. Supreme Court dismissed the amended complaint in part. The Appellate Division modified by granting the motion in its entirety and dismissing the amended complaint. The Court of Appeals modified the Appellate Division’s order by denying those parts of Defendants’ motion seeking to dismiss the amended complaint with respect to five of the nine project groups, holding that the statute of frauds does not bar the causes of action with respect to those groups. View "JF Capital Advisors, LLC v. Lightstone Group, LLC" on Justia Law