Becker & Poliakoff, P.A. Announces Class Action Lawsuit Against First Home Builders of Florida and K. Hovnanian First Homes, L.L.C.

The law firm of Becker & Poliakoff, P.A. announces that a federal securities class action lawsuit has been commenced in the United States District Court for the Middle District of Florida (Fort Myers Division), on behalf of all persons who purchased one or more real properties for investment purposes from First Home Builders of Florida, a Florida general partnership ( “ First Home ” ) in Cape Coral, Florida or Lehigh Acres, Florida between September 1, 2003 and December 31, 2005 (the “ Class Period ” ), based upon representations made by First Home and/or its agents, including the real estate brokerage firm of D ' Alessandro & Woodyard, Inc. ( “ D&W ” ), that: (a) investors would receive a fourteen percent (14%) or greater return on their investment based upon a tenant occupying, and then purchasing, each property; (b) the tenants for each property would be procured solely through the efforts and expertise of First Home and/or D&W (and/or their respective affiliates or co-brokers); and (c) no further cash outlay would be required from investors other than the initial contract deposit.

The Complaint alleges that First Home, D&W, and several of its officers and directors, violated the federal securities laws by issuing materially false and misleading statements to prospective investors in order to induce them to purchase real estate investment properties from First Home. Specifically, the Complaint alleges that during the Class Period, defendants fraudulently induced investors to purchase real estate investment properties in Lee County, Florida by promising that: (a) defendants would procure tenants for all properties purchased by investors; (b) the rental income generated from these tenants would cover all of the investor ' s mortgage expenses: and (c) investors would receive a guaranteed 14% return on their investment after the first year. These representations were knowingly false and misleading at the time that they were made.

Plaintiffs seek to recover damages on behalf all those who purchased real estate investment properties from First Home during the Class Period. If you purchased one or more real properties from First Home during the Class Period, you may, no later than December 22, 2007, move to be appointed as a Lead Plaintiff of the class. A Lead Plaintiff is a representative, chosen by the Court, that acts on behalf of other class members in directing the litigation.

If you have sustained substantial losses related to the purchase of one or more real estate investment properties from First Home Builders, please contact Becker & Poliakoff, P.A. at dwallach@becker-poliakoff.com for a more thorough explanation of the Lead Plaintiff selection process. If you have relatively small losses, your ability to participate in any recovery will be protected by the Lead Plaintiff(s), and you do not need to take affirmative steps at this time.

Becker & Poliakoff, P.A. is a law firm with over 120 lawyers with offices throughout the State of Florida and in New York City, and is active in major litigations pending in federal and state courts throughout the United States. Please contact the Becker & Poliakoff, P.A. website ( www.becker-poliakoff.com ) for more information about the firm and its attorneys. If you wish to discuss this action with us, or have any questions concerning this notice or your rights or interests with regard to the putative class action, please contact the following attorneys:

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About Becker & Poliakoff
Becker & Poliakoff, P.A. is a law firm with over 120 lawyers with offices throughout the State of Florida and in New York City, and is active in major litigations pending in federal and state courts throughout the United States. Please contact the Becker & Poliakoff, P.A. website (www.becker-poliakoff.com) for more information about the firm and its attorneys. If you wish to discuss this action with us, or have any questions concerning this notice or your rights or interests with regard to the putative class action, please contact the following attorney:

Daniel L. Wallach, Esq.
3111 Stirling Road
Fort Lauderdale, Florida 33312
954-965-5049 (telephone)
dwallach@becker-poliakoff.com