Albany, N.Y. - New York State Attorney General Letitia James, along with Governor Andrew Cuomo have announced the signing of a new law.
The new law restores the statute of limitations, back to 6 years, for claims under the Martin Act and Executive Law. That strengthens the AG's capacity to take on corporate violations. AG James stated in a press release "if main street has to play by a set of rules, then so must Wall Street."
The six year timeline brings New York in line with most other states. It helps ensure that Wall Street’s bad actors will be brought to justice by giving the AG and others the necessary time to investigate fraud or illegality, including scams, unscrupulous business practices, and other types of irresponsible behavior.