Credit Suisse Wins 3-Year Limit On Martin Act Suits

By Jack Newsham (June 12, 2018, 2:28 PM EDT) -- New York's highest court ruled Tuesday that the state attorney general could only sue under the Martin Act, a powerful tool for financial crimes enforcement, for three years after alleged violations, rejecting prosecutors' argument for a six-year limit and handing a victory to Credit Suisse.

Credit Suisse was freed from claims it violated the Martin Act after the New York Court of Appeals ruled Tuesday that the state attorney general only has three years to bring such actions. (AP)

The Court of Appeals ruled 4-1 that the Martin Act, which bans a broad sweep of "fraudulent practices" in the finance industry,...

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