Mo. Hilton Condo Hotel Sales Weren't Securities: Judge

Law360, New York (February 28, 2012, 6:05 PM EST) -- A Missouri federal judge on Monday tossed out several claims against companies that allegedly lured investors into fraudulently purchasing condos in a Hilton-branded hotel, saying the condo sales in question did not equate to a securities transaction.

U.S. District Judge Richard E. Dorr dismissed claims of federal and securities fraud, as well as a claim of fiduciary duty, after finding that the condo sales, linked to a program to rent out the units, were not securities and that a subsequent rental agreement investors signed did not...
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Case Title

Obester et al v. Boutique Hotel Development Company, LLC dba Hilton Promenade at Branson Landing et al


Case Number

6:11-cv-03190

Court

Missouri Western

Nature of Suit

Securities/Commodities

Judge

Dean Whipple

Date Filed

May 26, 2011

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