Securities
Fraud
Real Estate Transactions
John Reber and Brenda Reber v. Capital Growth Resources, Loretta Irene Cook, Walter Inwin Miller, Richard Dale Simpson, David P. Bax
Published: Sep. 22, 2012 | Result Date: Aug. 24, 2012 | Filing Date: Jan. 1, 1900 |Case number: 11-02944 Arbitration – Respondent
Facts
John and Brenda Reber filed suit against Capital Growth Resources, asserting causes of action for fraud, misrepresentation, negligence, breach of contract, breach of fiduciary duty, and violation of the Securities Exchange Act and Nevada regulations. The causes of action resulted from two tenant-in-common real estate securities transactions, NNN Satellite Place and NNN Papago Spectrum.
Damages
The claimants requested rescission of the purchase prices of each of the securities at issue in the amount of $686,063.
Result
The claimants' claims were dismissed in their entirety with prejudice.
Other Information
ARBITRATORS: Thomas R. Watkins, Edwin John Apenbrink, Michael Dean.
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