Aug. 13, 2011
SEC jumps into Hard Rock Hotel condos litigation
The Securities and Exchange Commission is contending that condominiums in the Hard Rock Hotel in San Diego actually are securities.
Daily Journal Staff Writer
The Securities and Exchange Commission is contending that condominiums in the Hard Rock Hotel in San Diego actually are securities because purchasers have no control over their individual units, a position that potentially impacts the future of condo-hotels.
In an amicus brief filed with the 9th U.S. Circuit Court of Appeals last Friday, the SEC said that a judge's ruling tossing out a laws...
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