CNL Hotels & Resorts, Inc. - Securities Class Action

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_______________
Copyright (c) 2001
Stanford Law School

CNL Hotels & Resorts, Inc. Conclusion: According to a press release dated August 7, 2006, on August 1, 2006, the Federal District Court located in Orlando, Florida granted final approval of the settlement of the class action lawsuit captioned In re CNL Hotels & Resorts, Inc. Securities Litigation, Case No. 6:04-cv-1231-Orl-31KRS. The law firm of Chimicles & Tikellis LLP served as Lead Litigation Counsel. Labaton Sucharow & Rudoff LLP and Wolf Haldenstein Adler Freeman & Herz LLP, represented the Proxy Class and Purchaser Class, respectively, as Co-Lead Counsel. (Collectively, "Plaintiffs' Counsel.") Following a final approval hearing held on July 26, 2006, the Court approved the Settlement as fair, reasonable, and adequate, and in rendering its approval of an award of attorneys' fees and costs to Plaintiffs' Counsel.

In a press release dated May 12, 2006, the Federal District Court located in Orlando, Florida has granted preliminary approval of the settlement of the lawsuit captioned In re CNL Hotels & Resorts, Inc. Securities Litigation, Case No. 6:04-cv-1231-Orl-31KRS. The Court will hold a hearing on July 26, 2006 to determine whether the proposed Settlement should be approved by the Court as fair, reasonable, and adequate, and to consider the fee and expense application of plaintiffs' counsel. The Purchaser Class claims are proposed to be settled by Settling Defendants' payment of $35,000,000, payable in three annual installments (January 2007 to January 2009). These monies, after payment of fees and expenses, will be distributed pursuant to a Plan of Allocation to all eligible members of the Purchaser Class.

The securities class action lawsuit was commenced against CNL Hotels & Resorts Inc. (f/k/a CNL Hospitality Properties, Inc.) ('CNL'), CNL Hotel Development Company, CNL Hospitality Corp. ('Advisor'), CNL Financial Group, Inc., CNL Real Estate Group, Inc., Five Arrows Realty Securities II, LLC, CNL Hospitality Partners, L.P., RFS Partnership, L.P., and certain of its officers and directors. The Complaint charges defendants with violations of the federal securities laws, including Sections 11, 12 and 15 of the Securities Act of 1933, and Sections 14(a) and 20 of the Securities Exchange Act of 1934 and Rule 14a-9 promulgated thereunder. In addition, by virtue of the defendants' conduct, the Complaint alleges that defendants have also breached their fiduciary duties owed to the proposed Class.

Specifically, the Complaint alleges, among other things, that defendants utilized improper accounting practices and other manipulative devices to carry out a systematic scheme of materially inflating CNL's reported income and, thereby, created and maintained the appearance that CNL generated sufficient cash flow from operations to consistently pay dividends to shareholders at the levels promised in CNL's Prospectuses.

NOTE: CNL Hotels & Resorts Inc. are involved in the ownership and operation of hotel and resort properties.

INDUSTRY CLASSIFICATION:
SIC Code: 6519
Sector: Services
Industry: Real Estate Operations

COMPANY/ISSUER NAME:	CNL Hotels & Resorts, Inc.
COMPANY/ISSUER TICKER:	UNDETERMINED
COMPANY WEBSITE:	http://www.cnlonline.com

FIRST IDENTIFIED COMPLAINT IN THE DATABASE

Campbell, et al. v. CNL Hotels & Resorts Inc., et al.

COURT: M.D. Florida	DOCKET NUMBER: 04-CV-1231
JUDGE NAME: Hon. Gregory A. Presnell
DATE FILED: 08/16/2004	SOURCE: Business Wires
CLASS PERIOD START: 08/16/2001	CLASS PERIOD END: 08/16/2004
TYPE OF COMPLAINT: Unamended/Unconsolidated
PLAINTIFF FIRMS IN THIS OR SIMILAR CASE:
Chimicles & Tikellis LLP 361 West Lancaster Avenue, Haverford, PA, 19041 (voice) 888.805.7848, (fax) 610.649.3633, mail@chimicles.com Goodkind Labaton Rudoff & Sucharow LLP 100 Park Avenue, New York, NY, 10017 (voice) 212.907.0700, (fax) 212.818.0477, info@glrslaw.com Lasky & Rifkind, Ltd. 100 Park Avenue, New York, NY, 10017 (voice) 212.907.0800, (fax) 212.684.6083, Schiffrin & Barroway LLP 3 Bala Plaza E, Bala Cynwyd, PA, 19004 (voice) 610.667.7706, (fax) 610.667.7056, info@sbclasslaw.com Wolf Haldenstein Adler Freeman & Herz LLP 270 Madison Avenue, New York, NY, 10016 (voice) 212.545.4600, (fax) 212.686.0114, newyork@whafh.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 5

DOCUMENTS FOR THE FIRST IDENTIFIED COMPLAINT
Class Action Complaint
Type: Complaint		Date on the document: 08/16/2004

REFERENCE COMPLAINT

In Re: CNL Hotels & Resorts, Inc. Securities Litigation

COURT: M.D. Florida	DOCKET NUMBER: 04-CV-1231
JUDGE NAME: Hon. Gregory A. Presnell
DATE FILED: 10/05/2005	SOURCE: Business Wires
CLASS PERIOD START: 08/16/2001	CLASS PERIOD END: 08/16/2004
TYPE OF COMPLAINT: Second Amended and Consolidated
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Chimicles & Tikellis LLP 361 West Lancaster Avenue, Haverford, PA, 19041 (voice) 888.805.7848, (fax) 610.649.3633, mail@chimicles.com Glancy Binkow & Goldberg LLP (LA) 1801 Ave. of the Stars, Suite 311, Los Angeles, CA, 90067 (voice) (310) 201-915, (fax) (310) 201-916, info@glancylaw.com Goodkind Labaton Rudoff & Sucharow LLP 100 Park Avenue, New York, NY, 10017 (voice) 212.907.0700, (fax) 212.818.0477, info@glrslaw.com Labaton Sucharow & Rudoff LLP 100 Park Avenue, 12th Floor, New York, NY, 10017 (voice) 212.907.0700 , (fax) 212.818.0477 , info@labaton.com Lasky & Rifkind, Ltd. 100 Park Avenue, New York, NY, 10017 (voice) 212.907.0800, (fax) 212.684.6083, Miller Shea, P.C. 1301 W Long Lake Rd, Ste 135, Troy, MI, 48098 (voice) 248.267.8200, (fax) 248.267.8200, info@millershea.com Wolf Haldenstein Adler Freeman & Herz LLP 270 Madison Avenue, New York, NY, 10016 (voice) 212.545.4600, (fax) 212.686.0114, newyork@whafh.com _____________________________________________ TOTAL NUMBER OF PLAINTIFF FIRMS: 7

DOCUMENTS FOR THE REFERENCE COMPLAINT
Consolidated Amended Class Action Complaint For Violation Of Federal Securities Laws And Breaches Of Fiduciary Duties
Type: Complaint		Date on the document: 12/10/2004
Corrected Consolidated Amended Class Action Complaint For Violation Of Federal Securities Laws And Breaches Of Fiduciary Duties
Type: Complaint		Date on the document: 12/23/2004
Consolidated First Amended Class Action Complaint For Violation Of Federal Securities Laws And Derivative Action For Breaches Of Fiduciary Duties
Type: Complaint		Date on the document: 05/31/2005
Consolidated Seconded Amended Class Action Complaint For Violation Of Federal Securities Laws And Derivative Action For Breaches Of Fiduciary Duties
Type: Complaint		Date on the document: 10/05/2005
Stipulation of Settlement
Type: Settlement		Date on the document: 04/03/2006
Notice Of Pendency And Proposed Settlement Of Class Action
Type: Notice		Date on the document: 04/21/2006
Order Granting Preliminary Approval of Class Action Settlement
Type: Order		Date on the document: 04/21/2006
Proof of Claim
Type: Other		Date on the document: 04/21/2006
Declaration Of Nicholas E. Chimicles In Support Of Final Approval Of The Class Action Settlement, Plan Of Allocation And Award Of Attorneys' Fees And Expenses.
Type: Declaration		Date on the document: 07/12/2006
Lead Plaintiffs' Memorandum Of Law In Support Of Final Approval Of Class Action Settlement, The Plan Of Allocation And Award Of Attorneys' Fees And Expenses
Type: Memorandum		Date on the document: 07/12/2006
Notice Of Motion For Final Approval Of Class Action Settlement, The Plan Of Allocation And Award Of Attorneys' Fees And Expenses
Type: Motion		Date on the document: 07/12/2006
Order Granting Final Approval Of The Settlement, The Plan Of Allocation And Award Of Attorneys’ Fees And Reimbursement Of Litigation Expenses
Type: Order		Date on the document: 08/1/2006
U.S. District Court Civil Docket
Type: Complaint		Date on the document: 08/02/2006

OTHER DOCUMENTS
Class Action Complaint
Case Name and/or Number: Wong, et al. v. CNL Hotels & Resorts Inc., et al.
Type: Complaint		Date on the document: 09/08/2004

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