Legal Question in Business Law in California

Burned by a tenant in common scam
I and several others bought shares in
a grubb-ellis tenant in common
building. grubb knew the building was
losing money before they syndicated
our shares, and continued to
mismanage and fee the bulding to
death. Now they have run down the
reserves from $3.4 million to zero
and will do nothing for us. This seems
a recurring theme. Are there any
sources of redress? Grubb and the
stock brokers who sell these shares
are FINRA licensed and may have
irregularities

Asked on 6/09/09, 10:18 pm

3 Answers from Attorneys

Terry A. Nelson Nelson & Lawless

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Re: Burned by a tenant in common scam

"Redress?" You can file a lawsuit if you have the facts to justify it. Feel free to contact me if serious about pursuing this. You should try to get all the 'shareholders' to join with you to make it cost effective.

Answered on 6/09/09, 10:52 pm

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Daniel Bakondi The Law Office of Daniel Bakondi

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Re: Burned by a tenant in common scam

Yes. I know Grubb Ellis and in case of violations of certain laws such as fraud or securities laws, you may be able to get personal liability and a settlement. You should contact my office as I have experience with such matters.

Best,

Daniel Bakondi, Esq.

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Answered on 6/09/09, 11:09 pm

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