Real Estate Investors Get Class Status in Video Promotion Suit

Investors in an allegedly fraudulent real estate scheme promoted on social media can proceed with their lawsuit as a class, a federal court ruled.

The person leading the suit—Christine Pino, the daughter of a deceased investor—satisfied the requirements for class certification in her case against Grant Cardone, his investment firm, and two funds he manages, Judge John F. Walter said. A class action is superior to other approaches despite Cardone’s asserted offers of refunds, Walter said March 27 for the US District Court for the Central District of California.

There’s “no evidence from which the Court can conclude that ...