Rissman v. Rissman

Arnold Rissman (plaintiff) and his brother Randall (defendant) co-owned a toy business; after a falling out, Arnold agreed to sell his shares to Randall for $17 million in installments, with acceleration if the business were sold before all payments were made. Arnold asked Randall to promise in writing never to sell the business, but Randall refused; the final sale contract instead contained an anti-reliance clause stating that all inducements to sign were included in the contract, that Arnold had read and understood it, and that he wasn't relying on any unlisted statement. Randall later sold the business for $335 million. Arnold sued, claiming Randall had deceived him into believing he'd never sell, and sought the roughly $95 million he would have made had he kept his shares. The district court granted Randall summary judgment.