| Company: | Landwin Group, LLC |
| Ticker Symbol: | MLGx |
| Class Period: | Feb-1-05 to Aug-15-05 |
| Date Filed: | Aug-26-10 |
| Lead Plaintiff Deadline: | Oct-25-10 |
| Court: | Central District of California, Southern Division |
| Allegations: | |
The First Amended Complaint ("FAC") charges Landwin and certain of the Company's executive officers and directors with violations of federal securities laws, and other federal and state law claims. Among other things, plaintiff claims defendants' material omissions and dissemination of materially false and misleading statements concerning the Company's operations and prospects caused Landwin's unit price to become artificially inflated, inflicting damages on investors. In 2005, Landwin, through its managers, Sylvia, Inc. (Martin Landis), and SmithDennison Capital, LLC (Sean Dennison), solicited investors to invest in a commercial real estate management company with promises of over 400% return over a ten year period. The FAC alleges throughout the Class Period defendants knew or recklessly disregarded that their material statements concerning Landwin's financial performance and prospects were materially false and misleading. Specifically, the FAC alleges defendants' statements failed to disclose or indicate significant setbacks the Company was experiencing in attempting to obtain adequate business growth to sustain the high expenses the Company was incurring. The FAC further alleges the Company made positive but misleading statements concerning its ability to sustain the business without exhausting all of the initial $13.8 million invested. Despite claims of success and profitability expenses exceeded revenues by $95,000 per month.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
