Lubin v. Sybedon Corp.

MEMORANDUM DECISION

ENRIGHT, District Judge.

INTRODUCTION

This is a proposed class action for damages, injunctive relief, rescission, attorneys’ fees and other relief brought by investor Robert Lubin against a wide array of defendants who were involved in the restoration of the U.S. Grant Hotel (hereinafter “Hotel”) in San Diego. Lubin alleges generally that through material misstatements and omissions defendants fraudulently exaggerated the prospects for the Hotel’s success and at the same time failed to disclose the severe financial straits into which the restoration project was falling.…