Investor Immigrants Seek Cert. In Row Over New EB-5 Rule
Law360, New York (September 21, 2015, 5:20 PM EDT) -- Potential foreign investors challenging a new rule restricting the type of borrowed cash that can be used in the EB-5 visa program moved for class certification in D.C. federal court on Saturday, claiming that at least 134 investors will see their petitions denied based on the rule.
In one of the more closely watched EB-5 cases filed this year, the plaintiffs asked U.S. District Judge Emmet G. Sullivan to grant them certification, arguing that their class is sufficiently numerous and involves a uniform policy that affects each member. Through the EB-5 program, investors can commit as little as $500,000 to a project...
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