SAN DIEGO, Oct 15 /PRNewswire/ -- On October 15, 2010, Krause, Kalfayan, Benink & Slavens, LLP filed an amended securities fraud class action lawsuit in the United States District Court for the Central District of California on behalf of a Class of persons who purchased, or affirmed their purchase of, equity interests in Tenants-In-Common interests in Beamer Place Apartments pursuant to a private placement memorandum, dated on or about March of 2008 ("March 2008 PPM"). The original complaint was filed on July 27, 2010.
The complaint alleges that Defendants offered and sold securities in the form of equity tenants-in-common interests in Beamer Place Apartments. The complaint alleges that the sale of Beamer Place TICs was part of an investment scheme in which Defendants made misrepresentations and omissions to investors.
The complaint alleges, among other things, that Defendants misled investors to believe that certain cross-collateralization agreements would be released, and that they misled investors by including a stale and inflated appraised value.
Plaintiffs seek to recover damages, or rescission of their investment, on behalf of all investors who purchased or affirmed the purchase of their investment in Beamer Place TICs pursuant to the March 2008 PPM. They are represented by the law firm of Krause, Kalfayan, Benink & Slavens, LLP of San Diego, CA. Krause, Kalfayan, Benink & Slavens, LLP has over 20 years of securities litigation experience, has broad experience in representing defrauded investors in shareholder class actions, and has been appointed to lead positions in similar actions in United States District Courts.
If you are a member of the Class described above, and if you meet certain other legal requirements, you may, not later than 60 days after the date that this notice is published, or December 14, 2010, move the Court to serve as a lead plaintiff. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, you may contact Vincent D. Slavens, Esq. with Krause, Kalfayan, Benink & Slavens, LLP, at 619-232-0331 or by e-mail at firstname.lastname@example.org. If you wish to learn more about Krause, Kalfayan, Benink & Slavens, LLP, please visit their Web page at http://www.kkbs-law.com.
SOURCE Krause, Kalfayan, Benink & Slavens, LLP