NEW YORK, Sept. 25, 2020 (GLOBE NEWSWIRE) -- Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Cardone Capital LLC (“Cardone Capital” or the “Company”) of the November 20, 2020 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.

If you purchased interests in Cardone Equity Fund V, LLC (“Fund V”) and Cardone Equity Fund VI, LLC (“Fund VI”) and would like to discuss your legal rights, click here: www.faruqilaw.com/CARDONE.   There is no cost or obligation to you.

You can also contact us by calling Richard Gonnello toll free at 877-247-4292 or at 212-983-9330 or by sending an e-mail to rgonnello@faruqilaw.com.

CONTACT:
FARUQI & FARUQI, LLP
685 Third Avenue, 26th Floor
New York, NY 10017
Attn: Richard Gonnello, Esq.
rgonnello@faruqilaw.com  
Telephone: (877) 247-4292 or (212) 983-9330

A lawsuit has been filed in the U.S. District Court for the Central District of California on behalf of all those purchased interests in Cardone Equity Fund V, LLC and Cardone Equity Fund VI, LLC. The case, Luis Pino v. Cardone Capital, LLC, et al., No. 2:20-cv-08499 was filed on September 16, 2020, and has been assigned to Judge John F. Walter.

As detailed below, the lawsuit focuses on whether the Company and its Chief Executive Officer violated federal securities laws by making false and/or misleading statements in its public offerings of interests in Fund V and Fund VI. Specifically, defendants authorized or signed the offering statements and participated in making false and misleading “test the waters” communications that omitted material facts in connection with the public offerings of those interests.

The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.  

Faruqi & Faruqi, LLP also encourages anyone with information regarding Cardone Capital’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.

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