According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that:
- LuxUrban had not signed a lease with the Royalton Hotel, a four star hotel located in New York;
- as a result, LuxUrban’s total reported units was overstated;
- LuxUrban faced multiple lawsuits for unpaid rent; and
- as a result of the foregoing, defendants’ positive statements about LuxUrban’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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