Pino

facts about the internal rate of return (“IRR”) and distribution projections for these investments. Pino also claims Cardone misstated material facts regarding debt obligations. At the motion to dismiss stage, “we accept as true all facts alleged in the complaint and construe them in the light most favorable to plaintiff.” DaVinci Aircraft, Inc. v. United States, 926 F.3d 1117, 1122 (9th Cir. 2019) (quotation marks

PINO V. CARDONE CAPITAL, LLC

omitted). Doing so here, Pino has sufficiently stated claims under §§ 12(a)(2) and 15 of the Securities Act of 1933, 15 U.S.C. § 77a et seq. (the “Act” or “Securities Act”). We reverse the district court’s grant of Cardone’s motion to dismiss. Background Grant Cardone; Cardone Capital, LLC; Cardone Equity Fund V, LLC; and Cardone Equity Fund VI, LLC (collectively “Cardone”) offer real estate investments to unaccredited investors. 1 Grant Cardone is a real estate entrepreneur and founder of Cardone Capital, LLC (“Cardone Capital”), a real estate syndicator that invests in real estate with money pooled from numerous investors. Cardone Equity Funds V and VI (“the Funds”), managed by Cardone Capital, are investment…