Are there any statutes of limitations for securities fraud cases?

Yes, there are statutes of limitations for securities fraud cases in North Carolina. These limitations dictate how long an individual has to file a claim for damages due to securities fraud. Generally, individuals have three years from the date of the fraud to file a claim. This is known as the three-year statute of limitations. The three-year period begins when the fraud is discovered or when it should have been discovered with reasonable diligence. However, if the fraud is intentional, malicious, or “willfully blind,” the statute of limitations can be extended to six years. This means that individuals can potentially sue for damages even if up to six years have passed since the fraud was committed. In addition to the three-year or six-year statute of limitations, North Carolina has a “discovery rule.” This rule states that if an individual discovers or should have discovered the fraud more than three years after it was committed, he or she still has three years to sue. Even after the statute of limitations has passed, an individual may still have some legal recourse. In these cases, the individual may be able to sue for breach of fiduciary duty, inequitable conduct, fraudulent concealment, and other claims. In conclusion, there are statutes of limitations for securities fraud cases in North Carolina. Generally, individuals have three years from the date of the fraud to file a claim, but in some cases, it may be extended to six years or the “discovery rule” may apply.

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