Now ruined, these shareholders turned on the bank's six directors, who were put on trial on charges of fraudulent misrepresentation.

In the commercial context of this case the concept of 'fraud' was wider than the concept of the tort of deceit where a fraudulent misrepresentation, or its equivalent, was required.

As the judge expressly found, the amount of the settlement was very much greater than it would have been but for the fraudulent misrepresentation.

The way in which a fraudulent misrepresentation might cause the representee to act to his detriment would depend on all the circumstances.

One can also sue for fraudulent misrepresentation in a tort action.