Securities, RICO Claims Nixed In Sunset Media Tower Suit

Law360, New York (November 21, 2011, 12:31 PM EST) -- A California federal judge on Thursday tossed racketeering and securities fraud allegations brought by a group of real estate investors who said they were misled into investing $43 million in Los Angeles' Sunset Media Tower — home to various media and entertainment companies — that never generated any profit.

U.S. District Judge Gary Allen Feess said the plaintiffs' “sparse and conclusory” references to champagne-filled meetings at swanky hotels, at which they were promised sky-high returns, were not specific enough to survive a motion to dismiss by...
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