MEYER v. CABOT LODGE SEC. LLC

Index No. 653746/22, Appeal No. 1515, Case No. 2023-03243.

2024 NY Slip Op 00276

ROBERT G. MEYER ET AL., Plaintiffs-Appellants, v. CABOT LODGE SECURITIES LLC, Defendant-Respondent, FIRST CAPITAL REAL ESTATE TRUST INC., Nominal Defendant.

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

Decided January 23, 2024.


Attorney(s) appearing for the Case

Glancy Prongay & Murray LLP, New York ( Brian P. Murray of counsel), for appellant.

Marshall Dennehey Warner Coleman & Goggin, P.C., New York ( Nicholas P. Chrysanthem of counsel), for respondent.

Before: Webber, J.P., Kern, González, Kennedy, Rosado, JJ.


Order, Supreme Court, New York County (Andrea Masley, J.), entered April 25, 2023, which granted defendant's motion to dismiss the action as barred by the statute of limitations, unanimously affirmed, without costs.

Defendant acted as the dealer manager of an IPO for nominal defendant company. Under the parties' agreement and Financial Industry Regulatory Authority (FINRA) rules, defendant's compensation for organization and offering expenses, could not exceed 15...

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