People v Greenberg

The Attorney General filed suit against defendants, two former officers of AIG, under the Martin Act, Gen. Bus. Law art. 23-A, and Executive Law 63(12). On appeal, defendants challenged the availability of equitable relief. The court held that the Attorney General's claims against defendants withstand summary judgment and, therefore, should proceed to trial. The court concluded that the Attorney General may obtain permanent injunctive relief under the Martin Act and Executive Law 63 (12) upon a showing of a reasonable likelihood of a continuing violation based upon the totality of the circumstances. Therefore, the court rejected defendants' argument that the Attorney General must show irreparable harm in order to obtain a permanent injunction. Furthermore, defendants' reliance upon State of New York v Fine - in which the court held that the Attorney General must demonstrate irreparable harm to obtain a preliminary injunction under the Martin Act - is misplaced. Finally, the court concluded that disgorgement is an available remedy under the Martin Act and the Executive Law. Accordingly, the court affirmed the Appellate Division. View "People v Greenberg" on Justia Law