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'...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!