Investors Seek To Shut Down CrowdStreet After Nightingale Fiasco
A group of investors who lost their money in Nightingale Properties’ now-infamous offerings on CrowdStreet are looking for payback and focusing their attention on the real estate crowdfunding platform they say let it happen.
Attorneys acting on behalf of a dozen investors who collectively had more than $1.5M misappropriated from Nightingale’s failed bid to acquire the Atlanta Financial Center have filed an arbitration claim with the Financial Industry Regulatory Authority against CrowdStreet. They are seeking more than $3M in damages and an injunction that could effectively stop it from operating.
The claim, which was obtained by Bisnow and hasn’t been previously reported, was… Bisnow News Feed