Kerusa Co. LLC, Respondent v. W10Z/515 Real Estate Limited Partnership, Appellants

Summary

The New York Court of Appeals reversed the Appellate Division and held that a condominium purchaser cannot maintain a common‑law fraud claim against a sponsor when the alleged fraud is based solely on alleged omissions in the sponsor’s Martin Act disclosures. The court affirmed that the Martin Act provides no private right of action and that allowing such a claim would improperly expand the statute’s disclosure requirements.