VisionQuest CHC, LLC et al v. Buchholz et al

Filing 43

TENTATIVE ORDER re 37 MOTION to Dismiss. Signed by Judge Whyte on 03/09/09. (rmwlc2, COURT STAFF) (Filed on 3/9/2009)

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1 2 3 4 5 6 7 8 9 10 United States District Court For the Northern District of California 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 This is a tentative ruling. It is not an order. E-FILED on n/a IN THE UNITED STATES DISTRICT COURT FOR THE NORTHERN DISTRICT OF CALIFORNIA SAN JOSE DIVISION VISIONQUEST CHC, LLC and GATEWAY COMMUNITY CHURCH, Plaintiffs, v. RONALD BUCHHOLZ, CHARISE BUCHHOLZ, SOLOMON CAPITAL INC., EQUITY ENTERPRISES INC., EQUITY ENTERPRISES OF NEVADA INC., RNC HOLDINGS LLC, RDB DEVELOPMENT LLC, EENI-PATRIOT COURTYARDS LLC, COMMUNITY REAL ESTATE LLC, THE DISTRICT, LLC, PHOENIX VALLEY DEVELOPMENT, LLC, EENI-PATRIOT COURTYARDS, LLC, EENI-DURANGO TRAILS, LLC, EEI-RAY RANCH, LLC, and EENI-PASEO VILLAGE, LLC, Defendants. No. C-08-03410 RMW [TENTATIVE] ORDER REGARDING DEFENDANTS' MOTION TO DISMISS [TENTATIVE] ORDER REGARDING DEFENDANTS' MOTION TO DISMISS--No. C-08-3410 RMW JAS 1 2 3 4 5 6 7 8 9 10 United States District Court For the Northern District of California 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 This is a tentative ruling. It is not an order. Plaintiffs' First Amended Complaint includes a claim for violation of the Racketeer Influenced and Corrupt Organizations Act ("RICO") based on fraud relating to the 2005 loan from VisionQuest, LLC to RNC Holdings, LLC. The loan note appears to qualify as a security, and the RICO claim appears therefore to be barred under the Private Securities Litigation Reform Act. See 18 U.S.C. 1964(c). The securities fraud claim is not alleged with the required particularity. See In re Daou Systems, Inc. Sec. Litig., 397 F.3d 704, 710 (9th Cir.2005); 28 U.S.C. 78u-4(b)(1); Betz v. Trainer Wortham & Co., Inc., 519 F.3d 863, 873 (9th Cir. 2008); Tellabs, Inc. v. Makor Issues and Rights, Ltd., 551 U.S. 308, 127 S.Ct. 2499, 2513 (2007). DATED: n/a n/a RONALD M. WHYTE United States District Judge [TENTATIVE] ORDER REGARDING DEFENDANTS' MOTION TO DISMISS--No. C-08-3410 RMW JAS 2 1 2 3 4 5 6 7 8 9 10 United States District Court For the Northern District of California 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 This is a tentative ruling. It is not an order. Notice of this document has been electronically sent to: Counsel for Plaintiff: Sharonrose Cannistraci Counsel for Defendant: Kevin Francis Rooney William W. Schofield krooney@pinnaclelawgroup.com wschofield@pinnaclelawgroup.com sharonrose@cannistracilaw.com Counsel are responsible for distributing copies of this document to co-counsel that have not registered for e-filing under the court's CM/ECF program. Dated: n/a n/a Chambers of Judge Whyte [TENTATIVE] ORDER REGARDING DEFENDANTS' MOTION TO DISMISS--No. C-08-3410 RMW JAS 3

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