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First Home Builders of Florida Case 05/30/2007

  • If you purchased a significant amount of shares of this company you have certain options and for certain investors are short and strict deadlines running. Investors should contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Company
Security

Case Name
First Home Builders of Florida Case 05/30/2007
Type of Lawsuit
Shareholder Class Action
Class Period Begin
Class Period End
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Summary

<p><b></b></p> <p align= justify >The Complaint alleges that First Home, D&amp;W, and several of its officers and directors, violated the federal securities laws by issuing materially false and misleading statements to prospective investors in order to induce them to purchase real estate investment properties from First Home. Specifically, the Complaint alleges that during the Class Period, defendants fraudulently induced investors to purchase real estate investment properties in Lee County, Florida by promising that: (a) defendants would procure tenants for all properties purchased by investors; (b) the rental income generated from these tenants would cover all of the investor’s mortgage expenses: and (c) investors would receive a guaranteed 14% return on their investment after the first year. These representations were knowingly false and misleading at the time that they were made.</p>