Ballard Spahr Legal Alert: Optional Rental Program Did Not Transform Hotel-Condominium Units into Securities, Ninth Circuit Holds

By Daniel M. Benjamin, Ballard Spahr LLP The U.S. Court of Appeals for the Ninth Circuit has affirmed the dismissal with prejudice of a putative securities class action concerning the sale of 420 hotel-condominium units at the Hard Rock Hotel in San Diego. The appeal attracted competing amicus...