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LAWSUITS NEWS & LEGAL INFORMATION

CNL Hotels and Resorts

In August 2004, a lawsuit claimed that CNL Hotels obscured its true financial condition around the time the company was preparing a merger agreement and public stock offering. The Orlando-based real-estate investment trust denied liability, negligence or misconduct. CNL has agreed to settle with investors for $35 million. Approximately 80,000 members are expected to join the class. [ORLANDO SENTINEL]


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Published on Jul-31-06


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