Premium Connections, Inc. purports to be a real estate investment company based in Florida.

According to the Complaint, the class action was brought on violations of federal securities fraud, breach of contract, breach of the implied covenant of good faith and fair dealing, and violations of the Interstate Land Sales Full Disclosure Act, 15 U. S.C. § 1701 et seq. ("ILSFDA"), and Florida' s Deceptive and Unfair Trade Practices Act, Florida Statutes, § 501.201 et. seq. ("FDUTPA"), in connection with the offering and sale of real estate investment opportunities in Lee County, Florida.

The Plaintiffs bring this action on behalf of a class of all other persons or entities similarly situated, pursuant to Rule 23 of the Federal Rules of Civil Procedure. The proposed class is defined to include: All persons who received the "Cape Coral Millionaire" prospectus and thereafter purchased properties from PCI/BUILD A HOME TEAM in Cape Coral, Florida for investment purposes.

The principal common issues include the following: a. whether Defendants violated the federal securities laws by inducing purported class members to purchase investment properties from PCI/BUILD A HOME TEAM based upon false and misleading representations contained in the Prospectus and in oral communications with the Plaintiffs and class members; b. whether Defendants violated the Interstate Land Sales Full Disclosure Act by inducing purported class members to purchase investment properties from PCI/BUILD A HOME TEAM based upon false and misleading representations contained in the Prospectus and in oral communications; c. whether Defendants' actions also constitute deceptive and unfair trade practices, in violation of Sections 501.201 to 501.213, Florida Statutes; d. whether PCI/BUILD A HOME TEAM breached their contractual obligations to purported class members by failing to obtain tenants for the purchased properties.

Note: Other related entities listed in the Complaint are: Villa Realty Group, Inc., Build a Home, LLC, HGS Financial Services, LLC, OPM Millionaire, LLC, Lifestyle Home Rentals, LLC, Baywood Construction, Inc., United Mortgage Corporation, JM Title Corporation, JM Lending Group, Inc., National City Corporation, Coast Bank of Florida, Sage Appraisal Associates, Inc., Southern Appraisal Services, Inc., Network Appraisal Services, Inc., and Real Pro, LLC.

On November 26, 2008 the Plaintiffs elected to voluntarily dismiss the action after failing to meet the judge's 30 day deadline to file an amended Complaint addressing certain pleading deficiencies. The voluntary dismissal is without prejudice. An amended Complaint was filed December 9, 2008, reopening the case. Plaintiffs voluntarily dismissed three individuals and HGS Financial Services without prejudice on January 6, 2009. The judge entered an order denying as moot pending motions for dismissals until after Plaintiffs filed a second amended Complaint. The Complaint was filed on January 23, 2009. The Defendants responded by filing several motions to dismiss the second amended Complaint.

On October 16, 2009, Judge Lawrence L. Piersol signed the Opinion and Order granting the Defendant's motions to dismiss. The Plaintiff's second amended Complaint was dismissed, without prejudice, for lack of subject matter jurisdiction. Judgment was further entered that day.