On Jan. 31, 2007, we published an article entitled, “Fraud kills $75 million hotel deal/Buyer sued for allegedly ‘manipulating’ agreement,” in which we reported on legal proceedings pending in California state court. It has come to our attention that the article has been misread as suggesting that the allegations made by the plaintiffs in that case regarding the alleged actions of Los Angeles businessmen Richard Alter and Eddie Chan are true or have been established to be true, which is not correct.

On Jan. 31, 2007, we published an article entitled, “Fraud kills $75 million hotel deal/Buyer sued for allegedly ‘manipulating’ agreement,” in which we reported on legal proceedings pending in California state court. It has come to our attention that the article has been misread as suggesting that the allegations made by the plaintiffs in that case regarding the alleged actions of Los Angeles businessmen Richard Alter and Eddie Chan are true or have been established to be true, which is not correct. To be clear, to the extent the article discusses the “facts of the case,” it repeats the plaintiffs’ complaint allegations, which have not been proven or endorsed by any court. Indeed, it should be noted that the California Court of Appeal, in the published decision referenced in the article, held that an evidentiary hearing was necessary to determine the true facts, reversing the trial court’s decision and remanding the case back to the trial court to conduct such evidentiary hearing.

We apologize to the individuals in the article for any confusion our article may have caused.

***

What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Inman Connect Black Friday Sale! Bundle our next two events or secure your 2021 All Access Pass.SEE THE DEALS×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription