Middletown, NY asked in Stockbroker Fraud and Consumer Law for New York

Q: Any recourse against a broker who lied about an expected timeframe and cost us thousands?

Attempted to rent a co-op in NYC. Their broker said he could definitely get us in within a week of submitting the application, citing inside relationships with the board of directors. It took over a month for 2 such board members to coordinate their schedules to meet with us. Instead of moving from one apartment to the next, we had to put everything in storage. Moving costs increased $1200, I took off a month of work for nothing, and other hardships were endured. Any recourse?

2 Lawyer Answers
Barry E. Janay
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  • Livingston, NJ
  • Licensed in New York

A: Fraudulent misrepresentation is difficult to prove, actual damages would be difficult to prove in any case since moving is always a disruption of daily life. You can try to put together a list of some damages / out-of-pocket expenses incurred that wouldn't have been incurred otherwise and if it's below $5K in most parts of NY you can just file a small claim which is an expedited type of proceeding.

Ali Shahrestani,
Ali Shahrestani,
  • New York, NY
  • Licensed in New York

A: You may be able to sue for breach, if not also for fraud. More details are necessary to provide a professional analysis of your issue. The best first step is an Initial Consultation with an Attorney such as myself. You can read more about me, my credentials, awards, honors, testimonials, and media appearances/ publications on my law practice website, www.AEesq.com. I practice law in CA, NY, MA, and DC in the following areas of law: Business & Contracts, Criminal Defense, Divorce & Child Custody, and Education Law. This answer does not constitute legal advice; make any predictions, guarantees, or warranties; or create any Attorney-Client relationship.

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