Opinion ID: 723747
Heading Depth: 4
Heading Rank: 1

Heading: General Business Prospects

Text: 50 Paragraphs 48 and 49 of the Complaint asserted that the following allegations, made during the three days of preliminary due diligence in May 1993, were fraudulent: that plants in Italy, Germany, the United Kingdom, France and Austria would experience a financial turnaround in 1993; that MultiServ would place new emphasis on developing its core steel business and phase out other businesses; that MultiServ expected growth in new areas of the world; and that plants in China and Slovakia would be fully operational in 1993 with no significant start up problems. On their face, these representations are projections of ... future business and operations--exactly what Section 2.05 disclaims. In light of Sections 2.05 and 7.02, there is nothing in the Complaint which allows an inference of reasonable reliance on these representations. The district court correctly dismissed the claims relating to these representations. 51