On March 20, 2020, New York Governor Andrew Cuomo temporarily tolled (i.e., suspended) New York state statutes of limitations until April 19, 2020. Statutes of limitations are the time frames set by legislation where affected parties need to take action to enforce rights or seek redress after injury or damage. In effect, Cuomo’s order will extend the time period under which parties can bring legal claims pursuant to New York law (not federal law). This Order was in accordance with the directive of the Chief Judge of the State of New York to “limit court operations to essential matters during the pendency of the COVID-19 health crisis[.]” Among other things, Cuomo’s order also stays (i.e., stops) the “enforcement of either an eviction of any tenant residential or commercial, or a foreclosure of any residential or commercial property for a period of ninety days.”
About Faruqi & Faruqi, LLP
Faruqi & Faruqi, LLP focuses on complex civil litigation, including securities, antitrust, wage and hour, personal injury and consumer class actions as well as shareholder derivative and merger and transactional litigation. The firm is headquartered in New York, and maintains offices in California, Delaware, Georgia and Pennsylvania.
Since its founding in 1995, Faruqi & Faruqi, LLP has served as lead or co-lead counsel in numerous high-profile cases which ultimately provided significant recoveries to investors, direct purchasers, consumers and employees.
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About Richard W. Gonnello
Richard W. Gonnello is a partner in Faruqi & Faruqi, LLP's New York office and Chair of the firm's Securities Litigation Practice Group.