Link Motion Investor’s N.Y. Fraud Claim OK in Part, Judge Says

A retiree who purchased Link Motion Inc. shares should be allowed to proceed with part of his common-law fraud claim under New York law, a magistrate judge recommended Monday.

Wayne Baliga adequately alleged that for his share purchases in January 2018, he relied on the Chinese technology company’s representations that it would sell two subsidiaries to a major computer maker, Magistrate Judge Valerie Figueredo said in her report and recommendation. The opinion in the case, which isn’t a class action, will go to Judge Victor Marrero of the US District Court for the Southern District of New York for ratification. ...