A federal court rejected an alleged real estate fraud promoter’s effort to buy out individual investors’ interests in real estate funds that are the subject of a class action.
Grant Cardone, his investment firm, and two funds he manages failed to assuage concerns associated with settlement offers to individual members of a class, Judge John F. Walter said May 15. The suit is pending in the US District Court for the Central District of California.
Even though individual settlement offers don’t have to meet class deals’ fairness standards, they need to enable informed choices whether to settle or proceed, Walter ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.