According to the Associated Press, on Tuesday April 8, 2014, Governor Robert Bentley signed legislation that extends the statute of limitations in Alabama for securities fraud and theft by deception. The new law extends the statute of limitations to five years from when the fraud is discovered. Previously lawsuits had to be filed within 3 years for theft by deception cases and cases involving securities fraud had to be filed within five years from when the deal was made.
The law is of particular importance regarding complex long term investments such as REITs, Oil and Gas partnerships, private placements, etc. Investors often go into such deals with the understanding that it may take years before the deal will pay out. By the time they realize something is amiss, their legal options can sometimes arguably be limited. The new law will give Alabama investors additional time to detect problems and seek legal counsel.
The foregoing information, which is publicly available, is being provided by The White Law Group.
If you believe that you’re the victim of securities fraud and would like to discuss your legal options with a securities attorney, please call The White Law Group at (312) 238-9650 for a free consultation.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to the representation of investors in FINRA arbitration claims against brokerage firms throughout the United States. The firm’s offices are located in Chicago, Illinois and Boca Raton, Florida.
To learn more about The White Law Group, visitwww.WhiteSecuritesLaw.com.