Core Insights
- Legal Victory: Ninth Circuit Court of Appeals unanimously reversed lower court dismissal, allowing class action lawsuit to proceed against Grant Cardone and his investment entities
- SEC Intervention Evidence: Court found compelling evidence that Cardone continued promoting investment returns after SEC questioned their validity
- Investor Protection: Appeals court emphasized that disclaiming fraud doesn’t shield investment promoters from securities violations when targeting unsophisticated investors
LOS ANGELES, CA – The legal walls are closing in on social media investment guru Grant Cardone as a federal appeals court delivered a devastating blow to his defense strategy, breathing new life into a class action lawsuit that could expose millions in potential damages. The Ninth Circuit Court of Appeals’ unanimous decision in Pino v. Cardone Capital, LLC represents a significant escalation in the mounting legal challenges facing the real estate mogul’s investment empire.
