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  1. Nov 15, 2021 · A new decision of the Appellate Division, First Department (Board of Mgrs. of the Latitude Riverdale Condominium v 3585 Owner, LLC, 2021 NY Slip Op 06072 (1 st Dep’t Decided Nov. 9, 2021), has triggered a discussion of the intersection between common law fraud claims and the New York State Martin Act … The Martin Act

  2. rk Regional Ofice of the SEC.Originally passed in 1921, the Martin Act gives the New York Attorney General expansive law enforcement powers to conduct investigations of securities fraud and bring civil or criminal actions against. alleged violators of the Act. It is colloquially known as a “blue sky” law, a term first used by t.

  3. By Adam Leitman Bailey and John M. Desiderio. On Dec. 20, 2011, the New York Court of Appeals, in Assured Guaranty (UK) LTD v. J.P. Morgan Investment Management Inc.1 finally put to rest a see-saw controversy that, for nearly a quarter century, had engendered much litigation in both the lower state courts and in the federal courts in New York over the proper interpretation of the Court’s ...

    • Preemption and The New York Court of Appeals Decision in McKesson
    • The Evolution of Martin Act Preemption Since McKesson
    • Recent New York State Court Decisions Add Further Fuel to The Debate
    • Observations on The Road Ahead

    Section 352-c was added to the Martin Act in 1955. The New York Court of Appeals, however, did not consider whether private citizens could sue under the Act until McKesson was heard in 1987. The dispute stemmed from efforts by McKesson to sell plaintiff the stock of a wholly-owned subsidiary, C.F. Mueller Corporation. According to plaintiff, defend...

    Since McKesson was decided nearly twenty-four years ago, Martin Act preemption in the securities law realm has been shaped largely by federal district court decisions. Historically, “the overwhelming majority” of these courts have concluded that “non-fraud common law” theories (e.g., negligent misrepresentation, breach of fiduciary duty and other c...

    Judge Marrero also cited as support several recent state court decisions – decisions which supposedly clarified the distinction between common law claims that are “created by” the Martin Act (and thus are preempted) and claims that exist independent of the Martin Act (and thus, in his view, are not preempted). As an example, Judge Marrero cited Cab...

    Given recent developments in Martin Act jurisprudence, the need for definitive Court of Appeals guidance is greater than ever. Indeed, Anwar and the First Department’s decision in Assured Guaranty have done little to resolve the differences of opinion surrounding the preemption issue. Some courts, for instance, have expressly disagreed with Judge M...

  4. Our blue sky law lawyers may be able to have the charges against you, your co-workers, or your business reduced or dropped. Call our office today for a free consultation. Free Consultation - Call 877-377-8666 - Tilem & Associates, PC aggressively represents the accused against charges in Criminal Defense & Crime cases.

  5. Jun 12, 2018 · By Matthew Goldstein. June 12, 2018. A powerful law used by New York’s top prosecutor to bring fraud charges against Wall Street firms was reined in by the state’s highest court on Tuesday, a ...

  6. Mar 25, 2021 · Soon after then-Attorney General Spitzer's discovery of New York's long dormant blue sky law, a comment asked, somewhat facetiously, "Who's Afraid of the Martin Act."? McTamaney, New York's Martin ...

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