No Equitable Estoppel Tolling Fraud Claim: Plaintiffs Had Benefit of Two-Year Discovery Rule

On March 3, 2016, the First Department issued a decision in D. Penguin Bros. Ltd. v. National Black United Fund, Inc., 2016 NY Slip Op. 01574, declining to toll the statute of limitations on a fraud claim by equitable estoppel, explaining: "We perceive no basis for applying the doctrine of equitable estoppel; plaintiffs were afforded the benefit of the two-year discovery rule, and they failed to demonstrate that further acts of concealment prevented them from commencing the action within the two-year period."