Analysis

NY's Restored Martin Act Clock May See Old Claims Tested

Law360 (August 28, 2019, 9:32 PM EDT) -- Newly enacted New York legislation that restores a six-year statute of limitations for pursuing claims under the state's powerful securities fraud law should relieve time pressure imposed on prosecutors by a high-profile court decision last year and could put some old potential claims back in play.

A bill signed into law Monday by New York Gov. Andrew Cuomo reverses the New York Court of Appeals' June 2018 ruling in People v. Credit Suisse Securities USA LLC et al., which held that the statute of limitations for civil fraud claims brought under the Martin Act is three years, not six.

The decision...

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