A tough schooling: 127 plaintiffs dismissed in waterfront land suit

By Peter Vieth
Published: September 7, 2009

A large group of Virginia investors has lost its bid to sue seven banks in a federal mortgage fraud lawsuit. The 127 plaintiffs, many of whom were educators in Fairfax, claimed they were defrauded into buying overpriced real estate in coastal Carolina. In a 36-page memorandum order, U.S. District Judge Gerald Bruce Lee last month dismissed ...

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