Class Action Lawsuit Against WCI Communities, Inc. and The Resort at Singer Island Properties, Inc.
June 03 2008 - 2:46PM
PR Newswire (US)
WEST PALM BEACH, Fla., June 3 /PRNewswire/ -- The law firm of
Beasley Hauser Kramer Leonard & Galardi, P.A. ("Beasley
Hauser") announces this revised notice that on January 23, 2008, a
securities class action lawsuit, entitled "PAUL MASTRELLA, SAMUEL
LASORDA, GEORGE MELILLO, MICHAEL OCCHIATO and BRIAN SHAVER,
Plaintiffs, v. WCI COMMUNITIES, INC. and THE RESORT AT SINGER
ISLAND PROPERTIES, INC., Defendants" was filed against WCI
Communities, Inc. ("WCI") (NYSE:WCI) and The Resort at Singer
Island Properties, Inc. (collectively, the "Defendants"). The named
plaintiffs are represented by Beasley Hauser. The action is pending
in the United States District Court for the Southern District of
Florida, before Judge Daniel Hurley, Case number 08-80055-CIV-
Hurley/Hopkins, located at 701 Clematis Street, West Palm Beach,
Florida 33401. The lawsuit was filed on behalf of all persons who
purchased one or more of the 239 hotel condominium units (the
"Hotel Units") in The Resort at Singer Island (the "Singer Island
Resort") during the period of January 25, 2005 through January 23,
2008 (the "Class Period"). The Singer Island Resort is located in
Palm Beach County, Florida. The complaint alleges that the
Defendants violated section 12(a)(1) of the Securities Act of 1933,
15 U.S.C. Section 77(l)(a)(1), by failing to register with the
Securities and Exchange Commission (the "SEC") the public offering
of the Hotel Units. The complaint also alleges that defendant WCI
violated section 15 of the Securities Act, 15 U.S.C. Section 77o,
by controlling the operations of its wholly owned subsidiary,
defendant Singer Island Resort, in offering the Hotel Units for
sale without registering them with the SEC. The plaintiffs seek to
rescind their acquisition of the Hotel Units and/or rescissory or
other damages in an amount to be proven at trial. If you acquired a
Hotel Unit and sustained losses and wish to serve as lead
plaintiff, you may move the Court no later than 60 days from the
date of the publication of this revised notice to appoint you as
lead plaintiff, if you so choose. A lead plaintiff is a
representative party acting on behalf of other class members in
directing the litigation; in order to serve as lead plaintiff, you
must meet certain legal requirements. A copy of the complaint is
available from the Court. This Notice is a revised notice that is
being published in accordance with the Order of the Court, dated
May 28, 2008. DATASOURCE: Beasley Hauser Kramer Leonard &
Galardi, P.A. CONTACT: James W. Beasley, Jr., Esq. of Beasley
Hauser Kramer Leonard & Galardi, P.A., +1-561-835-0900 Web
site: http://www.beasleylaw.net/
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