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
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
The best event in real estate kicks off next week! Tickets are selling quickly.Register Now×
Limited time: Get 30 days of Inman Select for $5.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
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