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MAZZOLIN v. LEHMAN BROTHERS REAL ESTATE FUND III, L.P.

No. 11 C 953.

AMALIA MAZZOLIN, as Trustee of the AMALIA MAZZOLIN 1998 TRUST B, and THE MAZZOLIN FAMILY LIMITED PARTNERSHIP, An Illinois Limited Partnership, Plaintiffs, v. LEHMAN BROTHERS REAL ESTATE FUND III, L.P. a Delaware Limited Partnership, Defendant.

United States District Court, N.D. Illinois, Eastern Division.

January 25, 2012.

Attorney(s) appearing for the Case

Mazzolin, Amalia, as Trustee of the Amalia Mazzolin 1998 Trust B, Plaintiff, represented by Nicholas P. Iavarone, The Iavarone Law Firm.

Mazzolin, Amalia, as Trustee of the Amalia Mazzolin 1998 Trust B, Plaintiff, represented by Alan F. Block, Block & Landsman.

The Mazzolin Family Limited Partnership, Plaintiff, represented by Nicholas P. Iavarone, The Iavarone Law Firm.

Lehman Brothers Real Estate Fund III,LP, Defendant, represented by H. Nicholas Berberian, Neal, Gerber & Eisenberg.

Lehman Brothers Real Estate Fund III,LP, Defendant, represented by Jonathan D. Polkes, Weil, Gotshal & Manges Llp, Pro Hac Vice.

Lehman Brothers Real Estate Fund III,LP, Defendant, represented by Rawn Howard Reinhard, Neal, Gerber & Eisenberg.

Lehman Brothers Real Estate Fund III,LP, Defendant, represented by Robert Vanneman Spake, Jr., Weil, Gotshal & Manges Llp, Pro Hac Vice.

Lehman Brothers Real Estate Fund III,LP, Defendant, represented by William Anthony Burck, Weil, Gotshal & Manges Llp, Pro Hac Vice.

MEMORANDUM OPINION AND ORDER

REBECCA R. PALLMEYER, District Judge.

Plaintiffs, a trustee and an Illinois limited partnership, originally filed this action in the Circuit Court of Cook County seeking rescission of their subscription agreements for partnership interests in the defendant-partnership, Lehman Brothers Real Estate Fund III, L.P. ("LBREF"). Plaintiffs allege that they made their decision to invest in what they thought were...

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