On or around 12/20/2011 (Court's order of dismissal)
Filing Date: November 28, 2011
According to a notice of removal dated November 28, 2011, the plaintiffs allege violations of the federal securities laws in connection with a securities offering.
The plaintiffs stated that the securities sold in the Company were primarily used for investment various real estate and hospitality industry investments. Despite the effects on the financial crises on these types of investments, the plaintiffs claim that the Company fraudulently used funds from other aspect of the business to artificially sustain its high dividend and share price. The Company also allegedly used these funds to pay large fees to related parties. The plaintiffs claim that these activities deprive the shareholders in the Company from the ability to accurately evaluate the shares for redemption.
On December 19, 2011, the Plaintiff dismissed this case without prejudice pursuant to Rule 41 (a)(1)(A)(i) of the Federal Rules of Civil Procedure.
Company & Securities Information
Defendant: Apple REIT Nine, Inc.
Industry: Real Estate Operations
Headquarters: United States
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.
First Identified Complaint
Barbara Blazer, et al. v. Apple REIT Nine, Inc., et al.
COURT: S.D. New York
DOCKET #: 11-CV-08622
JUDGE: Hon. Paul A. Engelmayer
DATE FILED: 11/28/2011
CLASS PERIOD START: 03/29/2011
CLASS PERIOD END: 11/28/2011
PLAINTIFF FIRMS NAMED IN COMPLAINT:
Levi & Korsinsky, LLP 30 Broad Street, 15 1h Floor, Levi & Korsinsky, LLP, NY 10004 212.363.7500 212.363-7171 ·