Case Page

 

Case Status:    DISMISSED    
On or around 05/25/2011 (Notice of voluntarily dismissal)

Filing Date: February 25, 2009

According the complaint, the defendants through nearly constantly changing and involuntarily dissolved business organizations and names, used their website and other marketing materials to solicit individuals and businesses to invest money in IFC’s purported business of renovating foreclosed and distressed properties and reselling the properties for a profit. To date, none of the investors / Plaintiffs has received their full promised return on their investment and IFC has spent their money on property that was never the purpose explained in any of the marketing materials, which was rehabbing distressed properties in the United States.

An amended complaint was filed on March 17, 2009, prior to consolidation of related cases.

On April 27, 2009, a second amended complaint was filed prior to the consolidation of related cases.

On September 30, 2009, Defendant Martin’s Rule 12(b)(2) Motion to Dismiss for lack of personal jurisdiction was denied. Defendants Martin, Guidi, and Rodriguez’s Rule 12(b)(6) Motion to Dismiss is granted and the Complaint was dismissed in its entirety, without prejudice, with respect to Defendants Martin, Guidi, and Rodriguez. Defendants Sanchez and the IFC Entities’ Rule 12(b)(6) Motion to Dismiss was granted in part and denied in part; with respect to Defendants Sanchez and InvestForClosures.com LLC, Count 15 survived but Counts 1-14, 16, and 17 are dismissed without prejudice; with respect to Defendants InvestForClosures Financial, L.L.C., and InvestForClosures Ventures LLC, Counts 13 and 15 survive but Counts 1-12, 14, 16, and 17 were dismissed without prejudice. Lastly, Plaintiffs’ Motion to Strike was granted.

On October 15, 2009, a third amended complaint was filed with the court.

On October 20, 2009, a notice of voluntary dismissal was filed in the action by the plaintiff. The notice stated that pursuant to Federal Rule of Civil Procedure
41(a)(1)(A)(i), Plaintiffs hereby voluntarily withdraw their Third Amended Class
Action Complaint and dismiss the above-captioned case.

COMPANY INFORMATION:

Sector: Services
Industry: Real Estate Operations
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: N.D. Illinois
DOCKET #: 09-CV-01221
JUDGE: Hon. Harry D. Leinenweber
DATE FILED: 02/25/2009
CLASS PERIOD START: 03/14/2000
CLASS PERIOD END: 09/12/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Law Offices of Joel M. Weiner, LLC
    579 N 1st Bank Drive Suite 150, Law Offices of Joel M. Weiner, LLC, IL 60067-8102
    847.654.3105 847.654.3105 ·
  2. Thurston Law Offices, P.C.
    10469 Bethel Avenue, Thurston Law Offices, P.C., IL 60142-8131
    847.659.8613 847.659.8613 · info@thurstonlawpc.com
No Document Title Filing Date