SEC v. Palm House Hotel LLLP - Distribution Fund
Distribution amounts will be calculated based on SEC investigative records; no claim form required
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 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 Florida. Instead, the defendants 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 between November 2012 and March 2015 and suffered a loss from the fraudulent conduct described in the SEC complaint.
How to file
You do not need to submit a claim form. Eligible investors will be identified based on records obtained by the SEC during its investigation, and distribution payments will be calculated automatically. No action is required unless your contact or payment information has changed, in which case you should email info@palmhousehotelfund.com to update your information.
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 finance settlements
View all →Robinhood Order Flow Settlement
Robinhood allegedly routed customer market orders for equities in a manner that resulted in execution prices worse than the National Best Bid/Offer. Customers' buy orders were executed at prices higher than the best available offer, and sell orders were executed at prices lower than the best available bid. Robinhood denies all allegations of liability or wrongdoing.
Up to $17.60
80/20 ERISA Settlement
The 80/20 Employee Stock Ownership Plan was allegedly administered and terminated by the Defendants in violation of ERISA (the federal law regulating private retirement plans). The lawsuit also involved claims that certain other defendants knowingly participated in these ERISA violations. Defendants deny all claims and admit no fault or liability.
Surplus Proceeds Settlement
When 27 Michigan counties foreclosed on properties for tax nonpayment, they sold the properties at auction and kept the difference between the taxes owed and the sales proceeds. The lawsuit alleged that the counties violated property owners' rights by retaining these "surplus proceeds" without distributing them to the former owners.
Class members can generally recover 125 percent of their properties' surplus proceeds, minus any attorneys' fees and costs. This number is subject to certain potential adjustments.
Clackamas County Tax Foreclosure Settlement
Clackamas County allegedly failed to provide owners with proceeds from tax-foreclosed property sales that exceeded unpaid taxes and fees, or retained foreclosed properties worth more than the tax debt without compensation. The county denies wrongdoing and has settled to avoid costly litigation and address liability from the Supreme Court's Tyler v. Hennepin County decision.
Settlement Payments of "surplus proceeds"