On April 4, 2023, the Circuit Court of Cook County granted TDR’s private equity clients’ motion to dismiss fraud and waste claims asserted against them by two investors in their manufactured housing fund.
The plaintiffs, in a seven-count complaint, alleged that our clients fraudulently induced them to make a multimillion-dollar investment in a real estate holding company and perpetuated fraud after the investment. In addition to actual damages, they sought punitive damages.
TDR responded by moving to dismiss the fraud and waste claims and vigorously opposing the plaintiffs’ motion for partial summary judgment on the breach of contract claim. Following extensive oral arguments, the Court granted the motion to dismiss and denied the plaintiffs’ summary judgment motion—an outcome that spared our clients the burden and uncertainty of further litigation.
TDR attorneys Kyle Cooper, Brian Haussmann, and Elizabeth Coburn represented our clients in this matter.