Cabot Investors Win Class Cert. In $157M Fraud Suit
Law360 (March 21, 2018, 8:53 PM EDT) -- A Florida federal judge on Wednesday certified a class of investors who claim property manager CBRE Inc. and Cabot Investment Properties LLC aided CIP’s executives in embezzling $157 million from investors, finding that individualized defenses don’t trump the investors’ common questions.
U.S. District Judge William P. Dimitrouleas found that the 179 limited liability companies that held a fractional ownership interest in one of six CIP commercial office buildings in Florida share the same liability questions related to the same conduct, which can be resolved on a classwide basis.
“All putative class members suffered the same injury as a result of defendants’...
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