On August 26, 2019, New York Governor Andrew Cuomo signed into law a significant change affecting New York’s blue sky law (the Martin Act),1 extending the period during which the Attorney General of New York can take action for violations of the Act to 6 years from the 3
Barry Bendes
Third Circuit Clarifies Board Observers Are Not Subject to Section 11 Liability
By Barry Bendes on
It is common for investors in venture capital and private equity transactions, and in other investment arrangements, as a condition to their investment, to have rights to appoint board observers when director representation is not available. An unanswered question has been the extent to which a board observer has liability…