By adding Minkow and his company to a pre-existing lawsuit filed against
The amended complaint, filed yesterday in the 11th Judicial Circuit Court
in
The amended complaint states that Marsch escalated his wrongful conduct in 2008 by hiring Minkow and his company to use any means available, including fraud, identity theft and manipulation of securities markets, to wrongfully and falsely harm Lennar's business and reputation because Lennar refuses to accede to Marsch's demands for tens of millions of dollars.
The complaint states that among other things, with the knowledge, consent, and ratification of Marsch, Minkow and others have disseminated knowingly false and fraudulent accusations about Lennar and its senior executives in order to damage Lennar's reputation, stock price and business and to persuade Lennar to pay off Marsch.
The complaint states that in pursuing their illicit objectives, the
defendants have committed numerous illegal, malicious, and harmful acts. It
states that the defendants' conduct "was designed to severely and fraudulently
manipulate and did manipulate the public market for Lennar's securities" by
disseminating false and defamatory statements about Lennar, as Marsch had
threatened to do in a
The lawsuit states that Minkow, after being retained by Marsch, contacted
a
The lawsuit discloses that in mid-December, there was an illegal attempt
to obtain confidential bank account information in order to investigate a loan
transaction regarding Jaffe. The lawsuit alleges someone posing as Mr. Jaffe's
loan broker,
This illegal attempt failed, the complaint states, when a bank employee placed the caller on hold, contacted the real Venneri and determined that the inquiry was fraudulent.
Lennar immediately commenced an investigation. As the facts evidencing the scheme were emerging in the litigation, Marsch and Minkow launched a widespread public attack on Lennar over the Internet and in the media by making "multiple false, malicious, and defamatory statements," according to the complaint.
The amended complaint is available at:
http://www.lennar.com/Campaigns/PR/default.htm
CONTACTS:
glenn_bunting@sitrick.com or tony_knight@sitrick.com
Lennar Corporation, founded in 1954, is one of the nation's leading builders of quality homes for all generations. The Company builds affordable, move-up and retirement homes primarily under the Lennar brand name. Lennar's Financial Services segment provides primarily mortgage financing, title insurance and closing services for both buyers of the Company's homes and others. Previous press releases and further information about the Company may be obtained at the "Investor Relations" section of the Company's website, http://www.lennar.com .
SOURCE Lennar Corporation