Caboara v. Babylon Cove Development, LLC
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Ritter, J.
In 1921, the Legislature enacted the Martin Act, New York’s version of blue sky laws (see General Business Law art 23-A). The act prohibits a broad range of fraudulent and deceitful conduct as to securities. Enforcement of the act is vested exclusively with the Attorney General of the State of New York (hereinafter the Attorney General). Here, we are asked to determine whether the plaintiffs’ causes of action to recover damages for common-law fraud and breach of contract are preempted by the Martin Act because the allegations giving rise to the same would support…
2Cases cited14 opinions
- Leon v. MartinezNew York Court of Appeals · 1994
- Lama Holding Co. v. Smith Barney Inc.New York Court of Appeals · 1996
- 511 West 232nd Owners Corp. v. Jennifer Realty Co.New York Court of Appeals · 2002
- Burns Jackson Miller Summit & Spitzer v. LindnerNew York Court of Appeals · 1983
- CPC International Inc. v. McKessonNew York Court of Appeals · 1987
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3Cited by17 opinions
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- Allstate Insurance v. Countrywide Financial Corp.District Court, C.D. California · 2011
- Stephenson v. Citco Group Ltd.District Court, S.D. New York · 2010
- Sawabeh Information Services Co. v. BrodyDistrict Court, S.D. New York · 2011
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