The Los Angeles Superior Court approved a class action lawsuit and settlement filed by The Law Offices of A.J. Glassman on behalf of 75 plaintiffs (investors of a real estate consortium.) The settlement disallowed almost Ten Million Dollars in claims made by the defendants. In other words, no defendant received any distribution of their claimed Ten Million Dollar investment and only the plaintiffs received distributions.
In additiona, upon certification as a Class Action, the defendants were required to provide financial disclosures to the plaintiffs for themselves and their companies. In the event that there was a material omission or misrepresentation, a stipulated judgment against the defendants would be entered.
