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Shapiro Haber & Urmy LLP Announces Filing of a Class Action Lawsuit Against RealtyShares, Inc., RS Lending, Inc. and Others

BOSTON, Jan. 17, 2020 /PRNewswire/ -- Shapiro Haber & Urmy LLP has filed a class action against RealtyShares, Inc., RS Lending, Inc. and others ("Defendants"), for violations of federal and state securities laws, in the United States District Court for the District of Massachusetts, entitled Raudonis v. RealtyShares, Inc. et al., C.A. No. 20-cv-10107

The Complaint arises out of Defendants' solicitation of investors in 2016 to purchase debt securities relating to a loan to Ingersoll Financial, LLC (the "Nationwide SFR Package") and in or around 2018 to purchase debt securities relating to loans involving Franchise Growth, LLC, including a loan involving a Church's Chicken in Owensboro, Kentucky. In soliciting these investments, Defendants knowingly or recklessly misrepresented material facts and/or omitted to state material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading, in violation of federal and state law. Defendants also offered the securities by means of written communications that included untrue statements of material fact and/or omitted to state material facts necessary to make the statements, in light of the circumstances under which they were made, not misleading in violation of state law.

The action is brought on behalf of the following classes and subclass, defined as follows:

All persons or entities who purchased debt securities offered or sold by RealtyShares or RS Lending relating to loans to Franchise Growth and/or associated entities for property acquisition and construction;

All persons or entities who purchased debt securities related to a loan to Franchise Growth and/or associated entities for property acquisition and construction of a Church's Chicken restaurant to be located at 2735 Calumet Trace, Owensboro, Kentucky; and

All persons or entities who purchased debt securities related to a loan to Ingersoll Financial for property acquisition and repair of 125 properties across the United States, known as the Nationwide SFR Package.

If you purchased debt securities relating to loans involving Franchise Growth, including the loan regarding the Church's Chicken in Owensboro, or relating to the Nationwide SFR Package, you may move the court to appoint you as lead plaintiff no later than 60 days from today.

The factual and legal bases for the Plaintiff's claims are set forth in greater detail in the Complaint.  A copy of the Complaint can be obtained from the office of the Clerk of the United States District Court for the District of Massachusetts, 1 Courthouse Way, Boston, Massachusetts 02210.  A copy of the Complaint is also available on the firm's web site, www.shulaw.com.  More information about the law firm of Shapiro Haber & Urmy LLP and its qualifications is also available on the firm's website.  If you would like more information about this case, please contact Ian McLoughlin at the firm's telephone numbers below or by email at cases@shulaw.com.

Shapiro Haber & Urmy LLP
2 Seaport Lane
Boston, MA 02210
Tel:  (800) 287-8119 or (617) 439-3939

Cision

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SOURCE Shapiro Haber & Urmy LLP