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Commercial Division Blog

Current Developments in the Commercial Divisions of the
New York State Courts by Schlam Stone & Dolan LLP
Posted: March 15, 2020

Securities Act Sections 11 and 12 Claims in State Court Not Required to be Plead with Particularity

On February 26, 2020, Justice Scarpulla of the New York County Commercial Division issued a decision in Matter of PPDAI Group Sec. Litig. v. XXX, 2020 NY Slip Op. 50285(U), holding that Securities Act Sections 11 and 12 claims brought in New York state court did not have to be plead with particularity under CPLR 3016 . . .

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