ACA Financial Guaranty Corp., Appellant v. Goldman, Sachs & Co., Respondent, Defendants

Summary

The New York Court of Appeals reversed the Appellate Division’s dismissal, holding that ACA Financial Guaranty Corp. sufficiently pleaded the justifiable reliance element for its fraud in inducement and fraudulent concealment claims, and remanded the case for further proceedings. Judge Read dissented, arguing the complaint failed to allege reasonable protective steps.