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...
To view the full article, register now.