iFunding pays $150,000 to settle shareholder case

iFunding pays $150,000 to settle shareholder case


The largest US forex broker

Do not invest more money than you can afford to lose.


Real estate crowdfunding platform iFunding said on Wednesday it has paid $150,000 to settle a lawsuit case filed by shareholder Michael J. Turner in the Delaware State Court. As a result, the company has been released of all claims.

According to Turner’s claims, iFunding co-founders William Skelley and Sohin Shah have violated their operating agreement. The plaintiff sought the “dissolution of iFunding and an appointment of a liquidation trustee”, as well as monetary damages and a court order mandating the purchase of his 20-percent stake.

“On behalf of the company and myself, we are glad to get this suit behind us and for reasonable terms,” said Skelley.

Skelley is a CEO of iFunding, while Shah is no longer part of the company.

iFunding is a brand name of Innovational Funding LLC. It is a commercial real estate crowdfunding platform where owners can access equity and debt financing from accredited ivestors.

Leave a Reply

Your email address will not be published. Required fields are marked *