New York Court of Appeals
Frank J. Gaidon v. Guardian Life…
December 20, 199994 N.Y.2d 330
Summary
The New York Court of Appeals held that the plaintiffs sufficiently pleaded a claim under General Business Law § 349 for deceptive marketing practices involving "vanishing premium" life insurance policies, and therefore reinstated those claims for further proceedings. The Court also held that the plaintiffs' common‑law fraud claims were not adequately pleaded and affirmed their dismissal. The majority opinion was joined by Judges Kaye, Levine, Ciparick, and Wesley, while Judge Bellacosa dissented in part, arguing that the § 349 claims should not be revived.