Daily Archives: Saturday, May 22, 2021

Posted: May 22, 2021

Questions of Fact Preclude Dismissal of Section 12 Claim on the Ground that Defendants Were Not Statutory Sellers

On May 14, 2021, Justice Borrok of the New York County Commercial Division issued a decision in Erie County Employees’ Retirement Sys. v. NN, Inc., 2021 NY Slip Op. 50423(U), holding that questions of fact precluded dismissal of Section 12 claim on the ground that the defendants were not statutory sellers, explaining: Section 12(a)(2) of... Read more »