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Moreover, statutes of limitations for state securities fraud, common law fraud, breach of contract, and negligence may also be subject to discovery, delayed accrual, or tolling rules that can substantially extend an investor's time to bring a claim. Under such rules, claims can sometimes be successfully brought a decade or more after the first wrongful act occurred.
In addition to the time limits imposed under each claim, the Code of Arbitration Procedures of the NASD provide that claims submitted more than six years after their occurrence are not eligible for arbitration.
The thing for an investor to remember about delay is that, while no amount of delay is safe, he should never conclude that his claims have become time-barred without first getting the advice of a qualified lawyer.
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