First Department Addresses Several Put-Back Action Issues

Today, the First Department issued a decision in Computershare v. Natixis. The decision touches on several topics, including whether raising a borrowing statute argument (that is, arguing that another jurisdiction’s shorter statute of limitations applied) should be barred when it was raised for the first time five years into the case (it was not). There also is a long discussion of Natixis’ third-party claims against the Securities Administrator (Wells Fargo) for failing to give notice of representation and warranty breaches.