Rockmaker

Rockmaker v. West Coast Lending CA4/3

Good Law
Court of Appeal of CaliforniaApril 3, 2025G063837California1,740 words

Opinion

Opinion

FACTS

I.

APPELLANTS’ COMPLAINT IN INTERVENTION

We recite appellants’ allegations as the factual background for this matter. In 2016, a limited liability company named MO Murrayfield, LLC (the LLC) was formed to acquire and manage various real properties in Missouri, including university dormitories. According to appellants: “To induce [investors, including appellants,] to invest in [the LLC], the

2 1 defendants in [this litigation ] made several misrepresentations and omissions about . . . finances, tenant leases, and the student housing market in Columbia, Missouri. . . . As a result of these misrepresentations and omissions, the [m]embers were induced to invest in [the LLC] and agree[d] to an inflated purchase price” of $14.7 million for real property. Thirty members collectively contributed capital totaling a little over $4 million to the LLC. The members included appellants and two 2 companies, respondent West Coast Lending, Inc., and Salvation Investment, LLC (Salvation). Salvation filed its initial complaint in this matter in 2019, alleging multiple direct causes of action as well as derivative causes of action asserted on behalf of the LLC. In 2022, Salvation attempted…

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