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Article: Money Matters
- Article from:
- Monterey County Weekly
- Article date:
- May 8, 2008
- Author:
CopyrightCopyright Monterey County Coast Weekly May 8-May 14, 2008. Provided by ProQuest LLC. (Hide copyright information)
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Cedar Funding may face a class-action lawsuit.
In yet another probe into Cedar Funding's dealings, attorneys are considering class-action lawsuits against the real estate investment firm.
Carmel lawyer Larry Lichtenegger says he is preparing to file a class-action suit accusing Cedar Funding and owner David Nilsen of violating securities laws. Lichtenegger says he will seek federal jurisdiction because the company violated the securities Act of 1933. "The evidence discloses that [Nilsen] is misrepresenting the investments to his investors," Lichtenegger says. "He is telling them that they are secured by land and he is recording deeds of trust in his own name."
Monterey lawyer Neil Shapiro ...