Investors in a Window Rock Capital Partners LLC distressed real estate fund failed to adequately allege fraud claims against the company, its affiliates, and investment platform Integrity Bank & Trust but can proceed on claims of negligent misrepresentation.
The 15 investors, who say they lost $1.3 million, plausibly showed a “half-truth” misrepresentation in the quarterly updates they received, Judge Manish S. Shah said Tuesday for the US District Court for the Northern District of Illinois. The plaintiffs will have another chance to plead their dismissed claims.
The investors say they shared a financial adviser who recommended the fund after they ...
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