Martin Act Clarification by New York Court of Appeals – Securities Law Update

FYI: an advisory from White & Case on a recent NY court of appeals clarification of the Martin Act, with regard to common law claims securities cases:

“The New York Court of Appeals recently held that the Martin Act — New York’s “Blue Sky” law — does not preclude private plaintiffs from pursuing common law claims such as fraud and negligent misrepresentation relating to securities transactions…

…This decision represents an important clarification of New York law and significantly expands the ability of private parties to assert common law claims against financial institutions and other parties in securities-related actions under New York law.”

Read the entire update: New York Court of Appeals’ Clarification of the Martin Act Opens Door for Common Law Claims in Securities Cases»

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