The New York Court of Appeals’ decision that a shorter 3 year statute of limitations applies to New York Attorney General claims under the Martin Act against developers and others, was changed by a new law just signed by Governor Cuomo. The new law establishes that the statute of limitations is not 3, but 6 years. This will make a difference in going after developers for construction defect and under claims under the Martin Act. Essentially claims that the developer did not deliver what was promised in the publicly filed offering plan. Read more.
