Palm House Hotel Securities Fraud Settlement
This settlement is closed to new claims. You can still see what it was about and follow the case in court below. Looking for money you can still claim? Browse open settlements →
What happened
From November 2012 to March 2015, the defendants defrauded 88 foreign investors participating in the EB-5 Immigrant Investor Program out of approximately $44 million by misrepresenting that investor funds would be loaned to acquire and operate the Palm House Hotel in Palm Beach, Florida. Instead, Walsh and Matthews misappropriated a significant portion of the investor funds.
Do you qualify?
Foreign investors who purchased limited partnership interests in Palm House Hotel LLLP while participating in the EB-5 Immigrant Investor Program and suffered a loss as a result of the defendants' conduct.
How to file
You do not need to submit a claim form. Eligible investors will be identified and distribution payments calculated based on records obtained by the SEC during its investigation. Contact the Distribution Agent at 1-888-383-0356, email info@PalmHouseHotelFund.com, or mail PO Box 91380, Seattle, WA 98111 for more information.
Common questions
- How much does the Palm House Hotel Securities Fraud Settlement pay?
- The total settlement fund is $6.7M. Actual amounts depend on how many valid claims are filed — most settlements divide a fixed fund pro rata, so a higher claim rate means a smaller individual check. An "up to" figure is a cap, not a guarantee.
- Do I need proof of purchase for the Palm House Hotel Securities Fraud Settlement?
- No. You can file without a receipt or proof of purchase. You attest that you qualify and submit basic details, though claims are still subject to review and submitting a false claim is a crime.
- Is the Palm House Hotel Securities Fraud Settlement notice real, or a scam?
- JND Legal Administration is the settlement administrator for this case. Claims are filed at palmhousehotelfund.com. Filing a class action claim is always free — no legitimate settlement charges you to claim, and no administrator will ask for payment, a gift card, or your full Social Security number by email or text. If a notice asks for any of those, it is not from the administrator. When in doubt, ignore the link you were sent and go to the official settlement website directly.
- When will payments from the Palm House Hotel Securities Fraud Settlement be sent?
- Class action payouts typically take 12 to 24 months after the claim deadline, and longer if the settlement is appealed. The final approval hearing for this case is set for November 13, 2020; no payments can be issued before a settlement receives final approval.
In the news
- Glenn Straub loses appeal on Palm House saleThe Real Deal · November 29, 2019
- Embattled Palm House developer Robert Matthews agrees to federal securities chargesThe Real Deal · September 19, 2019
- The sensational story behind the demise of Palm HouseThe Real Deal · June 24, 2019
- Developer of failed Palm House Hotel pleads guilty in EB-5 fraud caseThe Real Deal · April 25, 2019
Headlines via NewsAPI. ClaimWatch isn't affiliated with these publications.
New to class actions?
This summary was generated from public settlement documents and may contain errors. Confirm eligibility, deadlines, and payment terms on the official settlement website before filing. ClaimWatch is not a law firm and this is not legal advice. Filing a claim is free.
More securities settlements
View all →Tattooed Chef Securities Settlement
Tattooed Chef, Inc. faced a securities lawsuit alleging that purchasers of the company's common stock were damaged. The defendant has agreed to settle all claims in the action for $4,750,000 in cash without admitting wrongdoing.
Estée Lauder Securities Settlement
Estée Lauder is settling securities litigation relating to alleged damages to investors who purchased or acquired publicly traded common stock of The Estée Lauder Companies Inc. during the class period. The defendant has not admitted wrongdoing in this settlement.
E-Commerce China Dangdang Securities Settlement
E-Commerce China Dangdang, Inc. was involved in a take-private transaction (merger) that closed on September 20, 2016. Shareholders who held American Depositary Shares during the Class Period claim they were harmed by undisclosed information related to the Company's take-private transaction. The defendant has agreed to settle these securities claims without admitting wrongdoing.
Evolv Technologies Holdings Securities Settlement
Investors purchased publicly traded common stock of Evolv Technologies Holdings Inc. during a specific period and are entitled to compensation from a securities class action settlement. The page does not explicitly state what wrongdoing Evolv allegedly committed.