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KRAMER v. W10Z/515 REAL ESTATE LIMITED PARTNERSHIP

44 A.D.3d 457 (2007)

844 N.Y.S.2d 18

RICHARD L. KRAMER et al., Appellants, v. W10Z/515 REAL ESTATE LIMITED PARTNERSHIP et al., Respondents. KERUSA CO. LLC, Appellant, v. W10Z/515 REAL ESTATE LIMITED PARTNERSHIP et al., Respondents.

Appellate Division of the Supreme Court of the State of New York, First Department.

Decided October 16, 2007.

The Martin Act (General Business Law art 23-A) does not preclude a private party from prosecuting an otherwise valid common-law fraud claim in connection with the sale of securities whenever the alleged fraudulent conduct is such that the Attorney General would be authorized to bring an action against the defendant under the Martin Act (see Residential Bd. of Mgrs. of Zeckendorf Towers v Union Sq.-14th St. Assoc., 190 A.D.2d 636...

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