EI President Jonathan L. Walker testified regarding damages in Charles M. Felton, et al. v. Vestin Realty Mortgage II, Inc. et al. a California state class action suit. An investor class sued a real estate investment fund that had converted from a limited liability company (“LLC”) into a publicly-traded real estate investment trust (“REIT”). The Felton matter was consolidated with Jane Halpern, et al. v. Vestin Realty Mortgage I, Inc. et al., a substantially similar suit brought by a second class against a second fund. The classes alleged that the conversions from LLC to REIT entitled them to certain contractual rights. Dr. Walker testified on behalf of the defendants regarding the value of those rights and class damages. A California superior court judge issued a tentative ruling in favor of the defendants on February 11, 2010.