Lubin
Lubin v. Sybedon Corp.
Opinion
Opinion
Enright, J.
MEMORANDUM DECISION
INTRODUCTION
This is a proposed class action for damages, injunctive relief, rescission, attorneys’ fees and other relief brought by investor Robert Lubin against a wide array of defendants who were involved in the restoration of the U.S. Grant Hotel (hereinafter “Hotel”) in San Diego. Lubin alleges generally that through material misstatements and omissions defendants fraudulently exaggerated the prospects for the Hotel’s success and at the same time failed to disclose the severe financial straits into which the restoration project was falling. Various defendants now move to dismiss this action and to strike portions of the First Amended Complaint. In addition, Lu-bin has moved to certify a class of plaintiffs, and a group of investors has moved to intervene as representative plaintiffs.
The defendants in this case are the following individuals and entities:
Lubin has also added Does 2-250 as defendants.
FACTUAL BACKGROUND
This action arises out of the sale of approximately $43 million of “Class A” limited partnership interests, which were issued in order to raise capital for renovation of the Hotel. The interests were in the California limited…