Illinois Legislature Passes Major Change to the Illinois Securities Law of 1953

Block & Landsman by Block & Landsman

In an important development for investors defrauded by their financial advisers, the Illinois General Assembly has passed an amendment to the Illinois Securities Law eliminating the five-year statute of repose. The legislature’s action is an important restriction on the broad reach of the statute’s period of limitations. The statute includes anti-fraud provisions that make it a violation for any person to “engage in any transaction, practice or course of business in connection with the sale or purchase of securities which works or tend...Read More