Our attorneys participated in the Motel 6 securities litigation. Certain individuals had traded on inside information. A tip spread from a company director through the Los Angeles nightclub scene and beyond. Our attorney represented traders who had traded Motel 6 options and were defrauded by the insiders trading on information not available to the public. The court upheld the claims, including RICO claims, In re Motel 6 Securities Litig., 1996 U.S. Dist. LEXIS 14658 (S.D. N.D. 1996). The case was later settled in conjunction with the SEC’s action, and the plaintiff class received a substantial recovery.
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