No action shall be maintained to enforce any liability created under Section 25504.2 unless brought within one year after the discovery of the facts constituting the violation, or after such discovery should have been made by the exercise of reasonable diligence. In no event shall any such action be brought more than three years after the act or transaction constituting the violation.
Cal. Corp. Code § 25506.1
Civil Liability
Known as the Corporate Securities Law
The act spans §§ 25000–25707 (201 sections).
Applied in 3 court decisions — leading case 685 F. Supp. 1132 - In Re Rexplore, Inc. Securities Litigation (1988)
Most recently applied in 688 F. Supp. 1425 - Lubin v. Sybedon Corp. (June 1988)
Added by Stats. 1977, Ch. 762.
Official source: California Legislative Information. Reproduced from public-domain California statutes; confirm against the official source for the current text. Not legal advice.