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PRESS RELEASE: Ninth Circuit Rules in Favor of Commercial Real Estate; Cox, Castle & Nicholson's Litigation Team Scores Major Victory That Will Impact All Asset Classes of Commercial Real Estate Investment

2013-08-27 18:35:00| National Real Estate Investor

Cox, Castle & Nicholson The Ninth Circuit issued a landmark decision concluding that the sale of the condominium-hotel units at the Hard Rock Hotel in San Diego is not the sale of a security. In Salameh, et al. v. Tarsadia Hotels, et al., (Case No. 11-55479), the Ninth Circuit affirmed the dismissal of the plaintiffs claims finding that they did not allege sufficient facts that would demonstrate that the condominium-hotel units constituted a security. Additionally, the court affirmed the lower courts dismissal of the plaintiffs common law fraud claims. read more

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