Prudential Bache Securities v. Archard
In the Matter of Prudential Bache Securities v. Howell O. Archard
Opinion of the Court
Text extracted by OCR from a scanned original; check the original for exact wording.
*653 In or before July 1982, the respondents executed subscription agreements with respect to the purchase of limited partnership interests in Outer Space Place, a partnership formed for the purpose of acquiring certain property in Long Island, allegedly sold to them by Prudential Bache Securities, through the agency of the individual appellants. Thereafter, on December 30, 1988, more than six years after the execution of the subscription agreements, the respondents commenced arbitration proceedings with the National Association of Security Dealers (hereinafter NASD) alleging in their supporting papers claims for damages arising out of the alleged fraudulent conduct of the appellants.
The claims asserted by the respondents arose more than six years prior to the commencement of the arbitration proceeding and are therefore time barred, and may not be submitted to arbitration with the NASD (NASD Code of Arbitration Procedure § 15; see also, PaineWebber, Inc. v Farnem, 870 F2d 1286; Matter of County of Rockland [Trimiano Constr. Co.], 51 NY2d 1 ). Kunzeman, J. P., Sullivan, Fiber and O’Brien, JJ., concur.
How later courts describe this case
No later court has written an explanatory parenthetical about this case yet.
Cited by 10 cases
View all citing references →Relies on it most ⓘ
- Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Sumi Ohnuma
- PaineWebber, Inc. v. Landay
- Merrill Lynch, Pierce, Fenner & Smith Inc. v. Jana
- Smith Barney Shearson Inc. v. Sacharow
- Merrill Lynch, Pierce, Fenner & Smith, Inc. v. DeChaine
- In re the Arbitration between Merrill Lynch, Pierce, Fenner & Smith, Inc. & Manhard
Citing references are not a citator: they show that a later opinion cites this case, not whether it followed, distinguished, or overruled it. Check negative history before relying on this case.