Caselegis

In Re Heritage Bond Litigation

Good Law
289 F. Supp. 2d 1132·2003 WL 22502577
United States District Court, Central District of CaliforniaJanuary 6, 2003CV 01-5752 DT(RCX), CV 02-383 DT(RCX), CV 02-993 DT(RCX), CV 02-2745 DT(AJWX), CV 02-6484 DT(RCX), CV 02-6841 DT(RCX), CV 02-6512 DT(AJWX)California9,223 words

Opinion

Opinion

Tevrizian, J.

ORDER GRANTING IN PART AND DENYING IN PART DEFENDANTS EDWARD J. HENTGES, KENNETH R. LARSEN, JEROME E. TABOLICH, STEVEN W. ERICKSON, AND PAUL R. EK-HOLM’S MOTION TO DISMISS CONSOLIDATED FOURTH AMENDED COMPLAINT PURSUANT TO FED. R. CIV. P. 12(b)(6) AND 9(b)

I. Background

A. Factual Summary

Plaintiffs Betker Partners One, LP (“Betker One”), Betker Partners Three, LP (“Betker Three”), Betker Family Trust (“Betker Trust”) (collectively, “Bet-ker Plaintiffs”), and Lori and Michael O’Shea (all party Plaintiffs collectively, “Plaintiffs”) bring this action over the alleged misuse of the proceeds of twelve bond offerings against Defendants U.S. Trust Corporation, N.A., U.S. Trust Company of Texas, N.A., and Bank of New York, Inc. (collectively, “Trustee Defendants”); Heritage Healthcare of America, Inc.(“Heritage America”), Heritage Geriatric Housing Development VII, Inc., Heritage Geriatric Housing Development VIII, Inc., Heritage Geriatric Housing Development IX, Inc., Heritage Care of Chicago, Inc., Heritage Care of Sarasota, Inc. (collectively, “Heritage Entities”); Heritage Housing Development, Inc. (“HHD”); Health Care Holdings, LLC (“HCH”); CareContinuum, LLC; Heritage Acceptance…

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