Mo. Hilton Condo Investors Drop Fraud Claims

Law360, New York (January 17, 2014, 2:18 PM EST) -- The majority of investors suing Boutique Hotel Development and its affiliates in Missouri federal court for allegedly luring them into fraudulently purchasing condos in a Hilton-branded hotel through securities transactions that were mischaracterized as real estate deals dropped their case Thursday, according to court documents.

Only two out of the roughly 130 investors in the case, Don and Norma Smith, plan to move forward with their complaint, which was first lodged in May 2011, according to a motion to dismiss with prejudice filed by the plaintiffs’...
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