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Case Summary

Krahmer v. Christie's, Inc.

Krahmer v. Christie’s Inc., 911 A.2d 399 (Del. Ch. Oct. 17, 2006), aff’d, 925 A.2d 504 (Del. 2007). See also Krahmer v. Christie's Inc., 903 A.2d 773 (Del. Ch. June 2, 2006) (denying motion to amend the complaint), aff'd, 906 A.2d 806 (Del. 2006).

At issue in this case was whether an auction house could be liable forfraud following a buyer’s post-sale discovery that a painting purchased at auction was not authentic. The court found that because the auction house, Christie’s, New York, genuinely believed that the painting was authentic, Christie’s did not possess the necessary level of scienter (i.e., guilty knowledge) for a valid claim of

fraud. In addition, the court found that . . . .

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