In general, there have been many issues with the private placement of real estate investments in recent years. This has hurt many legitimate operators of such ventures for obvious reasons. What you need to understand is that just because the investment loses money does not mean you have a case. Rather, there has to be some sort of fraud or misrepresentation involved in the offering or ongoing advice rendered regarding the investment. First thing to do is to figure out who sold this thing to you all -- you may be compelled to arbitrate. Then identify what the misrepresentations or frauds are. Then check www.sec.gov to see if the issuer has filed any Form Ds with the SEC, or anything else for that matter.
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You posted this in the family law section and this is a real estate question. My suggestion: post it in the real estate section for a comprehensive answer. If you're forum shopping and this case was already adjudicated, you can't try the same case twice.
The case you're describing really requires a comprehensive factual review of the documents, your case history, and the facts.
What do you mean by "slapp protections". In California slapp refers to strategic lawsuits against public participation, but that doesn't apply here. Are you saying the shopping center corporation defrauded it's investors? Did some investors already sue on this issue? You should consult with an attorney to get all the facts needed to make a decision on this matter. Also which two live in California? Are these investors? Are the shopping centers in California?
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