{"id":194,"date":"2018-09-07T12:37:21","date_gmt":"2018-09-07T16:37:21","guid":{"rendered":"https:\/\/www.businesslitigationtrends.com\/?p=194"},"modified":"2021-11-04T10:54:25","modified_gmt":"2021-11-04T14:54:25","slug":"legal-intelligencer-borrowing-statute-nys-bar-to-the-unsuspecting-out-of-state-investor","status":"publish","type":"post","link":"https:\/\/www.khflaw.com\/news\/legal-intelligencer-borrowing-statute-nys-bar-to-the-unsuspecting-out-of-state-investor\/","title":{"rendered":"Legal Intelligencer: Borrowing Statute: NY&#8217;s Bar to the Unsuspecting, Out-of-State Investor"},"content":{"rendered":"<p>In the September 6, 2018 edition of\u00a0<a href=\"http:\/\/www.thelegalintelligencer.com\/\">The Legal Intelligencer<\/a>, Edward Kang, Managing Member of Kang Haggerty, and Tianna Kalogerakis, Associate of Kang Haggerty, co-authored \u201c<a href=\"https:\/\/www.law.com\/thelegalintelligencer\/2018\/09\/06\/borrowing-statute-nys-bar-to-the-unsuspecting-out-of-state-investor\/\">Borrowing Statute: NY&#8217;s Bar to the Unsuspecting, Out-of-State Investor<\/a>.\u201d<\/p>\n<p><em>Despite the plaintiff-friendly pleading standards for securities fraud outlined by the Supreme Court in Merck &amp; Co. v. Reynolds, 130 S. Ct. 1784 (2010), out-of-state investors need to be particularly vigilant in pursuing fraud-related common law claims in New York, being careful not to become blocked by the borrowing statute.<\/em><\/p>\n<p>New York City is home to the world\u2019s largest stock exchange, the New York Stock Exchange, and is host to financial service providers. This concentration of wealth and financial expertise has enticed many out-of-state investors to place their money in securities with New York-based financial institutions in the prospect of riches; however, coupled with the influx of these out-of-state investments is the potential for legal action by each dissatisfied or defrauded investor.\u00a0 New York developed the \u201cborrowing statute\u201d to protect its residents and deter actions by nonresidents including out-of-state investors in securities and commodities. Despite the plaintiff-friendly pleading standards for securities fraud outlined by the Supreme Court in\u00a0<em>Merck &amp; Co. v. Reynolds<\/em>, 130 S. Ct. 1784 (2010), out-of-state investors need to be particularly vigilant in pursuing fraud-related common law claims in New York, being careful not to become blocked by the borrowing statute.<\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.khflaw.com\/news\/legal-intelligencer-borrowing-statute-nys-bar-to-the-unsuspecting-out-of-state-investor\/\"  title=\"Continue Reading Legal Intelligencer: Borrowing Statute: NY&#8217;s Bar to the Unsuspecting, Out-of-State Investor\" class=\"more-link\">Continue reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In the September 6, 2018 edition of\u00a0The Legal Intelligencer, Edward Kang, Managing Member of Kang Haggerty, and Tianna Kalogerakis, Associate of Kang Haggerty, co-authored \u201cBorrowing Statute: NY&#8217;s Bar to the Unsuspecting, Out-of-State Investor.\u201d Despite the plaintiff-friendly pleading standards for securities fraud outlined by the Supreme Court in Merck &amp; Co. v. Reynolds, 130 S. Ct. [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":195,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[480,414],"tags":[336,55],"coauthors":[535],"class_list":["post-194","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-litigation-and-dispute-resolution","category-publications","tag-legal-intelligencer","tag-new-york","publication_lawyer-edward-t-kang","publication_lawyer-tianna-kalogerakis"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Legal Intelligencer: Borrowing Statute: NY&#039;s Bar to the Unsuspecting, Out-of-State Investor &#8212; Kang Haggerty News &#8212; September 7, 2018<\/title>\n<meta name=\"description\" content=\"In the September 6, 2018 edition of\u00a0The Legal Intelligencer, Edward Kang, Managing Member of Kang Haggerty, and Tianna Kalogerakis, Associate of Kang &#8212; September 7, 2018\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.khflaw.com\/news\/legal-intelligencer-borrowing-statute-nys-bar-to-the-unsuspecting-out-of-state-investor\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Legal Intelligencer: Borrowing Statute: NY&#039;s Bar to the Unsuspecting, Out-of-State Investor &#8212; Kang Haggerty News &#8212; September 7, 2018\" \/>\n<meta property=\"og:description\" content=\"In the September 6, 2018 edition of\u00a0The Legal Intelligencer, Edward Kang, Managing Member of Kang Haggerty, and Tianna Kalogerakis, Associate of Kang &#8212; September 7, 2018\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.khflaw.com\/news\/legal-intelligencer-borrowing-statute-nys-bar-to-the-unsuspecting-out-of-state-investor\/\" \/>\n<meta property=\"og:site_name\" content=\"Kang Haggerty News\" \/>\n<meta property=\"article:published_time\" content=\"2018-09-07T16:37:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-04T14:54:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.khflaw.com\/news\/wp-content\/uploads\/2017\/10\/KHFSocial.png\" \/>\n\t<meta property=\"og:image:width\" content=\"250\" \/>\n\t<meta property=\"og:image:height\" content=\"250\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Edward T. 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