United States Second Circuit

Judgment dismissing plaintiff's suit alleging that defendant engaged in dishonest and deceptive practices in managing its online foreign exchange trading platform, is: 1) affirmed in part, where the district court did not err in dismissing plaintiff’s claim under the Racketeer Influenced and Corrupt Organizations Act or his claim for breach of the implied covenant of good faith and fair dealing; but 2) vacated and remanded, in part, where plaintiff has statutory standing to sue under New York General Business Law sections 349 and 350, and he sufficiently alleged that defendant breached the parties' contract by failing to use its "best efforts" to timely execute trade orders.

Appellate Information

• Decided 06/19/2013
• Published 06/19/2013

Judges

• LOHIER

Court

• United States Second Circuit

Counsel