What Is The Statute Of Limitations In A Civil RICO Claim?
Civil RICO laws allow private actors (individual, business, organization, etc) to hold private parties legally responsible for damages caused by illicit racketeering activity. While it can be difficult to establish liability in a civil RICO, the potential for recovery is significant. Through a successful civil RICO lawsuit, a plaintiff can recover treble damages—meaning three times their actual losses.
You may be wondering: What is the statute of limitations in a civil RICO lawsuit? The answer depends largely on whether or not you are filing a federal claim or a state-based claim. In this article, our West Palm Beach RICO claims attorney explains the most important things to know about the statute of limitations in civil RICO litigation.
An Overview of the Statute of Limitations in a Civil RICO Lawsuit
The statute of limitations matters for any type of legal claim. You must take legal action before the statute of limitations expires. If you fail to do so, you will almost certainly lose out on your chance to bring a claim at all. The statute of limitations varies based on your specific type of claim. There is a separate statute of limitations for federal and state civil RICO lawsuits:
- Federal Statute of Limitations for a Civil RICO Lawsuit: Under federal law, there is a four year statute of limitations for a civil RICO lawsuit. You must initiate a claim within four years. Otherwise, the defendant can move for a dismissal of the case on technical grounds.
- Florida Statute of Limitations for a Civil RICO Lawsuit: Under the Florida RICO (Racketeer Influenced and Corrupt Organization) Act, there is a five year statute of limitations for a civil RICO lawsuit. Any legal action must be filed within five years.
When Does the Statute of Limitations Start in a Civil RICO Case?
There is a four year statute of limitations for a federal civil RICO lawsuit and five years for a Florida state civil RICO lawsuit. You may be wondering when the statute of limitations clock actually starts running in these cases. The answer depends on a wide range of different factors. In fact, there are actual different tests for federal law and for Florida law. That being said, the general standard is that the statute of limitations clock for a civil RICO claim begins when a plaintiff did or should have discovered that they suffered damages due to racketeering activity. You should act quickly if you believe that you were the victim of a civil RICO violation. A lawyer will help you initiate a claim before the statute of limitations becomes an issue in the case.
Contact Our West Palm Beach Civil RICO Lawyer Today
At Pike & Lustig, LLP, we have the legal knowledge to handle civil RICO claims. If you have any specific questions about the statute of limitations under the Federal civil RICO law or the Florida civil RICO lawyer, our attorneys can help. For a completely confidential review of your civil RICO case, please contact our West Palm Beach law office or our Miami law office today.