Case Page

 

Case Status:    DISMISSED    
On or around 08/21/2008 (Other)

Filing Date: January 23, 2008

According to a press release dated February 1, 2008, the lawsuit was filed on behalf of all persons who purchased one or more of the 239 hotel condominium units (the "Hotel Units") in The Resort at Singer Island (the "Singer Island Resort"). The Singer Island Resort is located in Palm Beach, Florida.

Specifically, the complaint alleges that the Defendants violated section 12(a)(1) of the Securities Act of 1933, 15 U.S.C. § 77(l)(a)(1), by failing to register with the Securities and Exchange Commission (the "SEC") the public offering of the Hotel Units. The complaint also alleges that defendant WCI violated section 15 of the Securities Act, 15 U.S.C. § 77o, by controlling the operations of its wholly owned subsidiary, defendant Singer Island Resort, in offering the Hotel Units for sale without registering them with the SEC. The plaintiffs seek to rescind their acquisition of the Hotel Units and/or rescissory or other damages in an amount to be proven at trial.

On March 28, 2008, a motion to consolidate cases, to appoint lead plaintiffs and counsels was filed. The court denied the motion for consolidation on May 28, 2008. On August 6, 2008 an entry in the docket was made regarding the bankruptcy filing of WCI Communities, Inc. On August 20, 2008, Judge Daniel T. K. Hurley signed the Order Staying and Administratively Closing Action due to the defendant's suggestion of bankruptcy. According to the Order, the matter is stayed, administratively closed, and the case shall be re-opened upon motion by either party, or upon the court's own motion.

COMPANY INFORMATION:

Sector: Capital Goods
Industry: Construction Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol:
Company Market: Privately Traded
Market Status: Privately Held

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. Florida
DOCKET #: 08-CV-80055
JUDGE: Hon. Ann E. Vitunac
DATE FILED: 01/23/2008
CLASS PERIOD START: 03/01/2007
CLASS PERIOD END: 03/31/2007
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Beasley Leacock & Hauser
    505 South Flagler Drive, Suite 1400 Flagler Center, Beasley Leacock & Hauser, FL 33401
    561.835.0900 ·
  2. Berger & Montague PC
    1622 Locust Street, Berger & Montague PC, PA 19103
    800.424.6690 215.875.4604 · investorprotect@bm.net
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