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Apple Restaurant and Kore Nightclub South Beach Named In Securities Fraud Lawsuit

Categories: Food Fights
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Official Court Document
Apple Restaurant & Lounge and Kore nightclub may some day be the coolest places on South Beach. That is, if they ever get past the controversy with investor Bert Hurstfield.

On April 16, 2009, Husrtfield sued South Beach Restaurant Authority, Steve Marlton and Barron Kidd, the people behind Apple and Kore. The restaurant and club at Washington and 14th Street has been delayed; Marlton recently told New Times the cause was "all this bad weather."

But there may more to the story. The seven-count lawsuit alleges securities fraud, breach of fiduciary duty, breach of contract, constructive trust, accounting, breach of oral contract, and unjust enrichment.

Hurstfield contends he invested $500,000 for a stake in the Miami branch of the club, which is headquartered in Los Angeles. Then he invested $338,000 more. He claims Marlton and Kidd -- through what the suit terms a "manager" named Sean Saladino -- misrepresented their investment in the property -- allegedly $1.5 million. 

Hurstfield says the agreement would have made him an equity shareholder in South Beach Restaurant Authority, entitled to 25% of profits from the Club.

Crystal Berry, a spokeswoman for the restaurant, declined comment. 

Who is Bert Hurstfield and what's his story? Stay tuned as we continue to dig up the facts. For now, enjoy scans of the first 8 pages of the lawsuit....
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