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Case Status:    DISMISSED    
On or around 09/22/2011 (Court's order of dismissal)

Filing Date: May 16, 2011

According to the complaint, this is a securities class action on behalf of all persons who were damaged in connection with their purchase of unregistered securities. The defendants and each of them engaged in a common enterprise to sell unqualified and unregistered securities in a fraudulent real estate investment scheme. The proposed transactions and investments were "securities" within in the meaning of Rule 14(b) of the Securities and Exchange Act. The defendants conducted "Investment Seminars" in California, Nevada and Hawaii and distributed literature and brochures titled "Investment Strategy Guide" indicating the client was purchasing investment instruments. The investment was nothing more than a fraudulent scheme to churn fees by placing "investors" into multiple properties they could not afford.

On August 10, 2011, the Court issued an Order dismissing the Plaintiffs' Complaint. Plaintiffs were given leave to refile their state law fraud claim in state court. Plaintiffs were ordered to file a First Amended Complaint consisting only of federal securities claims on or before September 12, 2011. The Plaintiffs failed to comply with this order. Thus the Court dismissed this action on September 22.

COMPANY INFORMATION:

Sector: Financial
Industry: Misc. Financial 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: C.D. California
DOCKET #: 11-CV-04175
JUDGE: Hon. S. James Otero
DATE FILED: 05/16/2011
CLASS PERIOD START: 01/01/2005
CLASS PERIOD END: 12/31/2009
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Burke Molina LLC
    3419 Via Lido, Suite 360, Burke Molina LLC, CA 92663
    888.679.5767 888.679.5767 · gburke@burkelegal.com
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