Real Estate Pricing Action Not Up To Snuff, Judge Says

Law360, New York (September 22, 2010, 2:43 PM EDT) -- A federal judge has dismissed a putative class action accusing The Ginn Cos. LLC, Lubert-Adler Partners LP, Wachovia Bank NA and others of taking part in a scheme to market, sell and finance real estate at fraudulently inflated prices, calling the plaintiffs' complaint a "shotgun pleading" and telling them to file a more coherent version.

U.S. District Judge Timothy J. Corrigan signed off on an order granting several dismissal bids from the defendants, which also include Fifth Third Bancorp and SunTrust Mortgage Inc., and dismissing the...
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