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Case Status:    DISMISSED    
On or around 03/17/2011 (Court's order of dismissal)

Filing Date: March 15, 2010

According to the complaint, the Defendants solicited and represented to residents of the Park that if they consented to the purchase of the property described in the complaint, with the proceeds of tax-exempt bond issues from the Daly City Housing Development Finance Agency. The residents would then control the Park via Ownership in their mobile home spaces and/or membership interests in a new non-profit corporation.

The defendants promised the residents that if they would agree to a large monthly rent increase, then they could participate in the initial acquisition and subsequent ownership in the proposed property.

The Defendants allegedly omitted to the residents how the rent and occupancy restrictions of the Regulatory Agreement as a condition of obtaining tax-exempt bond financing would be applicable to them or how they could participate or benefit from the rent restrictions, but instead encouraged all of the residents to agree to commit to paying increased rent.On August 12, 2010, an Amended Complaint for Damages, Restitution, Injunctive Relief, Dissolution Of Corporation, Specific Performance was filed against the defendants.

On July 22, 2010, the defendants filed a motion to dismiss the initial complaint. Before any ruling, the plaintiffs filed a First Amended Complaint on August 12, 2010. The defendants responded by filing several motion to dismiss on September 29, 2010. On February 11, 2011, Judge James Ware granted the defendants' motion to dismiss with leave to amend. The plaintiffs did not file an amended complaint, and March 17, 2011, the Court entered the Final Judgment. The case is now closed.

COMPANY INFORMATION:

Sector: Financial
Industry: Investment Services
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol:
Company Market: Undetermined
Market Status: Unknown

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. California
DOCKET #: 10-CV-01087
JUDGE: Hon. James Ware
DATE FILED: 03/15/2010
CLASS PERIOD START: 04/01/2002
CLASS PERIOD END: 03/15/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Shelley Susan Buchanan
    912 Cole Street, PMB # 120 , Shelley Susan Buchanan , CA 94117
    415-566-3526 415-566-3548 · buchananshelley@aol.com
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