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

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.

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Answered on 6/09/09, 10:52 pm
Daniel Bakondi The Law Office of Daniel Bakondi

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
Bryan Whipple Bryan R. R. Whipple, Attorney at Law

Re: Burned by a tenant in common scam

This question should have been rejected by the first LawGuru attorney to look at it. We do not answer questions that name parties to a dispute.

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Answered on 6/10/09, 12:20 am


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