In Re Apple Reits Litigation
Published: May 4, 2013 | Result Date: Apr. 3, 2013 | Filing Date: Jan. 1, 1900 |Case number: 1:11-cv-02919-KAM-JO Bench Decision – Dismissal
Court
SD New York
Attorneys
Plaintiff
Jacob H. Zamansky
(Zamansky LLC)
Daniel C. Girard
(Girard Sharp LLP)
Dena C. Sharp
(Girard Sharp LLP)
Defendant
Michael D. Blanchard
(Morgan, Lewis & Bockius LLP)
Kenneth I. Schacter
(Morgan, Lewis & Bockius LLP)
Facts
Plaintiffs filed a putative class action relating to the issuance and sale of a series of five non-publicly traded real estate investment trusts known as Apple REITs Six through Ten. Plaintiffs asserted claims against the REITs and David Lerner Associates, the best efforts underwriter and exclusive managing dealer for each offering, under the Securities Act of 1933, state blue sky laws, and/or the common law relating to alleged misrepresentations and omissions in the REITs' offering documents.
Result
The court rejected plaintiffs' claims that there were material misrepresentations and omissions in the offering materials and dismissed the case with prejudice.
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