Grant Cardone (Getty)
A legal offensive that attempted to use Grant Cardone’s outsized social media presence against him has failed.
U.S. District Judge John F. Walter last week dismissed a lawsuit filed by disgruntled investor Luis Pino in Los Angeles against the real estate crowdfunding guru and his Aventura-based company Cardone Capital.
In dismissing the case, Walter concluded that Pino failed to adequately allege that Cardone made material misstatements and omissions about a 15 percent annual rate of return on any investments made to Cardone Capital’s real estate funds; as well as the likelihood and amount of cash distributions for investors; and the acquisition and financing of properties purchased by the Cardone funds.