ARNOLD F. SOCK, Attorney At Law Opines On: U.S. Securities Laws May Not Protect a Margaritaville Investor
A Louisiana federal judge has nixed an investor’s claim that it’s protected by securities laws in its $3.4 million fraud suit against developers of two Margaritaville restaurants (U.S. District Court for the Eastern District of Louisiana TMJ Group LLC v. IMCMV Holdings Inc. et al 2:17-cv-04677), ruling it’s still unclear whether the investment was a contract or a passive instrument that forced the firm to rely on the developers to produce a return.
U.S. District Judge Nannette Jolivette Brown on Friday denied real estate investment firm TMJ Group LLC's March 13 motion for partial summary judgment.
Judge Brown must have found somethng at issue. With issues present, Summary Judgment not available.
Opinion by ARNOLD F. SOCK, Attorney at Law