Case Page

 

Case Status:    DISMISSED    
On or around 05/08/2014 (Other)

Filing Date: May 26, 2011

According to the complaint, this Complaint involves a scheme among the Defendants by which Plaintiffs were illegally and fraudulently induced into purchasing the air rights to condominium-hotel room units as investment securities (the “Securities”) as the Branson Landing Hilton Promenade Boutique Hotel in 2005, 2006, 2007 & 2008.

The Defendants’ marketing of the Securities omitted material facts and represented that the Securities would generate a substantial amount of revenue to each purchaser. Defendants, through their sales teams, gave sales presentations to potential purchasers which heightened purchasers expectations of a substantial economic benefit of the net rental income to be made from the Securities branded as the Hilton Promenade Boutique Hotel through the Hilton Rental Program.

On July 15, 2011, the plaintiff filed an amended complaint, alleging the same securities violations as in the initial complaint.

On February 27, 2012, the Court issued an Order granting in part and denying in part the Defendants' Motion to Dismiss. Counts I-V, XI, XII and XIII were dismissed in their entirety. Counts VI through X are subject to dismissal, but the Court will allow Plaintiffs 20 days from the date of this Order to amend their Amended Complaint.

On March 19, 2012, plaintiffs filed a second amended complaint.

On January 28, 2014, the Court granted a Motion to dismiss with prejudice certain plaintiffs from this case.

On April 28, 2014, the Court issued an Order dismissing Plaintiffs' claims with prejudice pursuant to their voluntary dismissal. This case is closed.

COMPANY INFORMATION:

Sector: Services
Industry: Hotels & Motels
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: W.D. Missouri
DOCKET #: 11-CV-03190
JUDGE: Hon. Richard E. Dorr
DATE FILED: 05/26/2011
CLASS PERIOD START: 01/01/2005
CLASS PERIOD END: 02/28/2010
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Morrissey Law Office, LLC
    114 W. Adams, Morrissey Law Office, LLC, MO 65616
    417.334.7581 417.334.7581 ·
No Document Title Filing Date