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Corporate & Securities Law

: Jim Hamilton's World of Securities Regulation

By Jim Hamilton

Fraud Claim Could Not Rest on Omissions from Martin Act DisclosuresThe New York Court of Appeals has held that the purchaser of a condominium could not bring a claim for common law fraud based solely on alleged material omissions from disclosures mandated by the New York Blue Sky Law (Martin Act). Reversing the decision below, the state high court emphasized that the Martin Act authorizes only the Attorney General to enforce its provisions and permits no private right of action. Although the p read more

Full post as published by Jim Hamilton's World of Securities Regulation on April 23, 2009 (boomark / email).