A lawsuit seeking to recoup millions of dollars in
losses for investors who bought condominium-style units at downtown San Diego’s Hard Rock Hotel has been dismissed by
a federal judge.
Former San Diego City Attorney Mike Aguirre, who filed the class-action suit in December of 2009,
says he already has appealed the ruling but does not expect an
appellate court decision for another year.
The lawsuit claimed that Tarsadia Hotels, which opened
the 420-unit hotel project on 5th Avenue
in late 2007, never filed its offering of investment agreements with
the U.S. Securities and Exchange
Commission and the California Department of Corporations because
they wanted to avoid scrutiny of the deal.
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Downtown
San Diego's Hard Rock Hotel, developed by Tarsadia Hotels, opened in
late 2007
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