At the core of this case is a now notorious New York State law called the Martin Act. The Martin Act is a New York-specific statute that has recently found use as a political sledgehammer for the state attorney general. Originally passed by state lawmakers in 1921 as an anti-fraud measure to regulate the sale and trading of securities, the law was used sparingly until prosecutors found a new use for it: targeting major corporations for operations they don’t like.
You can read this entire op-ed at Town Hall.