Kugler v. Southmark Realty Partners III

PRESIDING JUSTICE COUSINS

delivered the opinion of the court:

A consolidated complaint was filed against several entities, including the limited partnership of Southmark Realty Partners III, Ltd. (SRP III), and SRP Ill’s general partner, Southmark PS, Inc. (SPS), formerly known as Southmark Investment Group 85, Inc. (SIG 85). Therein, class representatives (plaintiffs) sought to rescind their purchases of limited partnership interests in SRP III. Upon plaintiffs’ motion, the circuit court entered summary judgment in plaintiffs’ favor on the issue of liability. Thereafter, plaintiffs filed a…