On February 2, 2024, Justice Borrok of the New York County Commercial Division issued a decision in Soloway v. The CIM Group, 2024 NY Slip Op. 30377(U), holding that a claim was not time-barred because the fiduciary’s continuing failure to act was a continuing breach, explaining:
Finally, Defendants argue that Plaintiff’s claims for breach of fiduciary duty and an accounting fail by virtue of the three-year limitations period afforded to by CPLR 214(4). To extent Plaintiff can show that Defendants breached their continuing duties to protect his interest in his units and to generate fair rental returns, however, these failures may constitute a continuing wrong that is not referable exclusively to the day the original wrong was committed. To the extent Plaintiff is seeking money damages, as opposed to equitable relief, the claim is limited to any alleged damages that occurred within three years of the commencement of the instant action.
(Internal citations omitted).