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Lewis v. CRI Inc.

Securities class action transferred to Maryland, which is defendants' principal place of business.

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Judge Mukasey

LEWIS v. C.R.I., INC. Plaintiff Robert Lewis, on behalf of a class of investors in Capital Realty Investors 85 Limited Partnership (CRI-85) and derivatively on behalf of CRI-85, brings this action under section 14(a) of the Securities Exchange Act of 1934 against CRI-85, CRI-85s managing general partner C.R.I., Inc. (CRI), and William B. Dockser and H. William Willoughby, shareholders of CRI. Lewis challenges a proposal by CRI to liquidate CRI-85s real estate assets pursuant to a Plan of Liquidation detailed in a Consent Solicitation Statement (the Solicitation) sent to CRI-85 investors. Lewis claims that the Solicitation impermissibly bundles a vote on the liquidation proposal with a vote permitting the payment of a fee to CRI and that the Solicitation misrepresents or omits material facts. CRI moves to dismiss Lewiss claims pursuant to Fed. R. Civ. P. 12(b)(6). In the alternative, CRI moves to transfer the action to the District of Maryland pursuant to 28 U.S.C. §1404(a). For the reasons set forth below, the motion to transfer is granted.

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