Case Page

 

Case Status:    DISMISSED    
On or around 03/30/2011 (Court's order of dismissal)

Filing Date: October 30, 2009

According to a press release dated February 05, 2010, the filing was for "over 60 limited partners" (LPs) within LBREP III who contributed funds to the effort to recover for real estate losses.

Class Period is November 2007 to May 2008. LBREP III Class Members may move
to serve as lead plaintiff until 60 days after this Notice.

Suit alleges PPM misstatements and omissions by Lehman affiliates in selling
partnership interests in LBREP III: PPMs said investments would buy properties
in the current market, but Lehman merely dumped its overpriced investments
onto investors along with Lehman's substantial losses.

On May 27, 2010, a Second Amended Complaint was filed, and the defendants responded by filing a motion to dismiss on June 30, 2010.

According to the Memorandum and Order, signed by Judge Barbara S. Jones on March 29, 2011, for the foregoing reasons, Defendants' Motion to Dismiss is granted with regard to the claims under Section 10(b), Section 29(b) and Section 20(a) of the 1934 Securities Exchange Act. The Court declines to exercise supplemental jurisdiction over the remaining state claims. The Clerk of the Court is directed to terminate the pending motion to dismiss (ECF Docket Number 57) and close both pending cases.

COMPANY INFORMATION:

Sector: Financial
Industry: Investment 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. New York
DOCKET #: 09-CV-09100
JUDGE: Hon. Barbara S. Jones
DATE FILED: 10/30/2009
CLASS PERIOD START: 11/30/2007
CLASS PERIOD END: 05/31/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Arthur Russell
    J4 Wall Street, 22nd Floor, Arthur Russell, NY 10005
    2127327800 973 661 4646 ·
  2. Robert Ted Parker
    7 Mira Loma Road, Robert Ted Parker, CA 104164
    925.254.8011 925.254.8011 ·
No Document Title Filing Date
COURT: S.D. New York
DOCKET #: 09-CV-09100
JUDGE: Hon. Barbara S. Jones
DATE FILED: 05/27/2010
CLASS PERIOD START: 11/30/2007
CLASS PERIOD END: 05/31/2008
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Arthur Russell
    J4 Wall Street, 22nd Floor, Arthur Russell, NY 10005
    2127327800 973 661 4646 ·
  2. Robert Ted Parker
    7 Mira Loma Road, Robert Ted Parker, CA 104164
    925.254.8011 925.254.8011 ·
No Document Title Filing Date