Neal Marder Quoted in the Daily Journal

On January 29, 2015, the Daily Journal published an article titled “Judge Tosses Charges Against Investment Bank.” I was quoted in this article regarding my representation of Shattuck Hammond Partners.

The article discusses a Superior Court judge’s decision to dismiss charges against my client, an investment bank, for their alleged role in a Ponzi scheme that duped dozens of investors into buying $200 million in securities for senior housing facilities.

The plaintiff investors accused the investment bank of assisting Asset Real Estate and Investment Company in sales of tenant-in-common (TIC) interests in 34 properties.

I am quoted in the article stating: “We had no involvement on the equity side in an attempt to raise money on these TIC interests. The court agreed with us.”

Shattuck Hammond had no involvement in the private placement memorandum – a document in the sales process of securities – that formed the basis for the investors’ investments.

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