On January 29, 2026, the First Department issued a decision in Milne Travel Agency, Inc. v. Altour Del., LLC, 2026 NY Slip Op. 00426, holding that a fraud claim was untimely because the plaintiff failed to sue within two years of being on inquiry notice of the fraud, explaining:
Milne’s fraud claim was untimely under the two-year fraud discovery rule. The complaint and documentary evidence, specifically a December 2017 email from Milne forwarding the draft demand letter of his counsel, show that Milne had knowledge of facts that would have led to discovery of the alleged fraud if he had acted with reasonable diligence. It is undisputed that Milne is an experienced businessperson who was represented by counsel when he discovered in 2017 that a transaction involving defendant ALTOUR Delaware, LLC had occurred. He or his counsel could have, acting with reasonable diligence, discovered the details of the transaction by December 2017, and whether defendants were misrepresenting the nature of that transaction.
(Internal citations omitted).