High Court Leaves Hotelier Win In Hard Rock Securities Row

Law360, New York (February 24, 2014, 4:59 PM EST) -- The U.S. Supreme Court on Monday refused to hear an appeal of a Ninth Circuit decision that said sales of condominium units in a San Diego Hard Rock hotel did not amount to securities deals, letting stand a win for condominium-hotel owners and operators.

Denying certiorari without explanation, the Supreme Court's decision means that a putative class action lodged at hotel operator Tarsadia Hotel and broker Playground Destination Properties Inc. by buyers of several of the condominium-style units, who alleged securities fraud, will not be revived.The...
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