Whitehall Tenants Corp. v. Estate of Olnick

In Whitehall Tenants Corp. v. Estate of Olnick, 213 AD2d 200, 623 N.Y.S.2d 585 [1st Dept], lv denied 86 NY2d 704, 655 N.E.2d 705, 631 N.Y.S.2d 608 [1995], a cooperative, on behalf of its resident shareholders, was seeking to vindicate its shareholders for information withheld or misrepresented by the sponsor. Plaintiffs' claim did not include any evidence of intent to defraud or reliance. The Court held that this was exactly what the Martin Act committed exclusively to the Attorney General, and that "private plaintiffs will not be permitted through artful pleading to press any claim based on the sort of wrong given over to the Attorney-General under the Martin Act" (id. at 200).