(1) Notwithstanding any provision of law to the contrary, any action pursuant to section 9(2) may not be commenced after—
(a) one hundred and eighty days from the day that the claimant first had knowledge of the misrepresentation; or
(b) one year from the date of the purchase transaction that gave rise to the cause of action whichever is earlier.
(2) In any action pursuant to section 9(2), the amount recoverable shall not exceed the amount at which the equity interests were purchased or subscribed, including any fees or other charges paid by the claimant.