+1-800-997-1228
Questions and Answers > EB-5 Investments

How can I and 63 other EB-5 investors launch a regional center class action lawsuit?

Me and around 63 regional center investors want to bring in a class action lawsuit against the Regional Center industry for acting to delay re-authorization to serve up their interests in negotiations with Congress. Its been 7 months since our petitions have seen no movement. And now we want our money refunded from RCs. Our ultimate goal is to refund our money from regional centers, and also if possible get compensation from them for the time our investments were with them even though there was no movement in the petition processing due to the regional center industry scuttling the re-authorization in June 2021.

Answers

  • Avatar

    Lynne Feldman

    Immigration Attorney
    Answered on

    You need to contact attorneys handling federal litigation - you may also contact the SEC to see if they have any thoughts on this.

  • Avatar

    Robert V Cornish Jr

    Securities Attorney
    Answered on

    I handle many actions for investors and regional centers alike. The inability of a regional center to refund your investment is a question of fact driven by the operative agreements through which the handling of your investments are to be followed. Have these people breached any duties to you? Have they misled you? One aspect you may not be recognizing is that lost opportunity costs are rarely recovered in securities litigation. It is your out-of-pocket losses most of the time, but there are exceptions.

  • Avatar

    Bernard P Wolfsdorf

    Immigration Attorney
    Answered on

    A lawsuit must be based on the law. Can one really say the Regional Center industry is able to dictate to Congress what laws should or should not be passed? No entities are more vested than Regional Centers in ensuring that the program is reauthorized for the 31st time? On the positive side, let''s be hopeful and proactive and work to renew the program. There is hopefully a window coming up, so everyone needs to push their congressmen now to take action. The way to win this is for a united industry to work together so Congress can see there is one voice and hopefully they can stop playing political football after so many have invested and committed to obtaining their green cards via investment.