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CABOARA v. BABYLON COVE DEVELOPMENT, LLC

54 A.D.3d 79 (2008)

862 N.Y.S.2d 535

THOMAS CABOARA et al., Appellants, v. BABYLON COVE DEVELOPMENT, LLC, et al., Respondents, et al., Defendant.

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

July 15, 2008.

Attorney(s) appearing for the Case

Kressel, Rothlein, Walsh & Roth, LLC, Massapequa (David I. Roth of counsel), for appellants.

Agovino & Asselta, LLP, Mineola (Joseph P. Asselta, Jean M. Smith and Robert Buff of counsel), for respondents.

RIVERA, J.P., CARNI and LEVENTHAL, JJ., concur.

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...

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