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WCI Communities Inc (OTC: WCIMQ) Investor Securities Class Action Lawsuit 01/23/2008

  • If you purchased the hotel condominium units in The Resort at Singer Island, you might have certain options and should contact the Shareholders Foundation, Inc.

  • To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.

Lawsuit Overview

Company
WCI Communities, Inc.
Security
OTC: WCIMQ

Case Name
WCI Communities Shareholder Class Action Lawsuit 01/23/2008
Type of Lawsuit
Shareholder Class Action
Court of Filing
U.S. District Court for the Southern District of Florida

Deadline To File for Lead
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Summary

August 21, 2008 - The court stayed the case and administratively closed the case.
August 1, 2008 - Another lead plaintiff motion was filed.

May 22, 2008 - The court denied the lead plaintiff motion.

March 28, 2008 - Lead plaintiff motion was filed.

January 23, 2008 - An investor in the hotel condominium units in The Resort at Singer Island filed a lawsuit in the U.S. District Court for the Southern District of Florida on behalf of all persons who purchased one or more of the 239 hotel condominium units (the “Hotel Units”) in The Resort at Singer Island (the “Singer Island Resort”). The Singer Island Resort is located in Palm Beach, Florida.

Specifically, the complaint alleges that the defendants violated section 12(a)(1) of the Securities Act of 1933, 15 U.S.C. § 77(l)(a)(1), by failing to register with the Securities and Exchange Commission (the “SEC”) the public offering of the Hotel Units. The complaint also alleges that defendant WCI Communities Inc violated section 15 of the Securities Act, 15 U.S.C. § 77o, by controlling the operations of its wholly owned subsidiary, defendant Singer Island Resort, in offering the Hotel Units for sale without registering them with the SEC. The plaintiffs seek to rescind their acquisition of the Hotel Units and/or rescissory or other damages in an amount to be proven at trial.