Grant Cardone Lawsuit, Everything Investors Need to Know About the Pino v. Cardone Capital Class Action

Grant Cardone, the real estate investor and social media personality behind Cardone Capital, is the named defendant in a certified federal securities class action that has been working its way through the courts since 2020. The case, Pino v. Cardone Capital, LLC, et al., reached a pivotal stage in 2026: a federal judge certified the class, a court-authorized notice went out to investors, and a firm trial date is now on the calendar. If you invested in Cardone Equity Fund V or Cardone Equity Fund VI, this lawsuit directly affects your legal rights — whether or not you take any action.

This article breaks down the case in full: who is involved, what is alleged, who qualifies as a class member, what your options are, the key deadlines, and how the case fits alongside the other, separate lawsuits Cardone is currently facing.

Quick Facts: Pino v. Cardone Capital

Detail	Information
Case Name	Pino v. Cardone Capital, LLC, et al.
Case Number	2:20-cv-08499-JFW (KSx)
Court	U.S. District Court, Central District of California
Presiding Judge	Hon. John F. Walter
Class Representative	Christine Pino (successor to original plaintiff Luis Pino)
Defendants	Cardone Capital, LLC; Grant Cardone; Cardone Equity Fund V, LLC; Cardone Equity Fund VI, LLC
Class Counsel	Susman Godfrey L.L.P. (Marc M. Seltzer, lead counsel)
Claim Administrator	JND Legal Administration
Class Certified	March 27, 2026
Opt-Out Deadline	July 14, 2026
Trial Date	March 9, 2027
Official Case Website	CardoneClassAction.com

What Is the Grant Cardone Lawsuit About?

At its core, this is a federal securities case brought under the Securities Act of 1933. The class action alleges that Grant Cardone and Cardone Capital made misleading statements and left out material facts when marketing investments in two real estate crowdfunding vehicles, Cardone Equity Fund V and Cardone Equity Fund VI.

According to the operative complaint and the court-authorized class notice, the core allegations are:

• Cardone and Cardone Capital told investors they could expect returns of “north of 15% after fees,” along with 6–8% annual cash distributions, and the possibility of doubling or tripling their investment.
• The lawsuit alleges Cardone made these projections on social media while personally believing they were not achievable.
• The complaint alleges Defendants did not disclose that the SEC had, in July 2018, told Cardone it did not see a basis for projecting a 15% annualized return.
• The lawsuit also alleges Defendants misrepresented who was responsible for the funds’ debt, telling investors the debt was Cardone’s personal obligation when, in fact, investor money was being used to service it.

Cardone and Cardone Capital deny all of these allegations. Defendants maintain that the risks and potential benefits of Funds V and VI were adequately disclosed, that the funds have performed in line with expectations, and that investors have received — and are expected to continue receiving — meaningful monthly distributions and proceeds from eventual property sales. Defendants further argue investors stand to receive more by keeping their investment in the funds than through this lawsuit. None of these claims have been decided by the court. The plaintiff still has to prove her case at trial.

Related case: El Paso Walmart Shooting Lawsuit, Where the Civil Cases Stand in 2026

How the Case Got Here: A Five-Year Procedural History

This lawsuit has already been through one full round of dismissal and appeal:

• September 2020: Investor Luis Pino filed the original class action complaint in the Central District of California, alleging Cardone and Cardone Capital violated Sections 12(a)(2) and 15 of the Securities Act of 1933 in connection with Funds V and VI.
• April 2021: The district court dismissed the case, ruling that Cardone and Cardone Capital did not qualify as “sellers” under Section 12(a)(2) and that the challenged statements were not actionable.
• Appeal to the Ninth Circuit: Pino appealed. Following Luis Pino’s death, his daughter, Christine Pino, was substituted as plaintiff and successor-in-interest.
• June 10, 2025: A unanimous Ninth Circuit panel reversed the dismissal in part, holding that investors had adequately alleged Cardone made return projections he subjectively did not believe and that he failed to disclose the SEC’s warning about the 15% return projection. The case was sent back to the district court.
• March 27, 2026: Judge John F. Walter certified the case as a class action under Federal Rule of Civil Procedure 23(b)(3).
• April 13, 2026: Class notice and related administrative documents were due to be issued.
• July 20, 2026: The court-authorized notice went live on the official administrator site, CardoneClassAction.com, run by JND Legal Administration.

Who Qualifies as a Class Member?

You are a class member if you purchased or otherwise acquired an interest in Cardone Equity Fund V or Cardone Equity Fund VI through their public offerings. The following are excluded from the class:

• Grant Cardone, Cardone Capital, and the Funds themselves
• Their directors, officers, employees, and agents
• Anyone who properly submits a valid request to be excluded (opt out) by the deadline

If you are unsure whether you qualify, the notice directs you to contact the Administrator or Class Counsel directly rather than guess.

Your Legal Rights and Options

Every class member has to choose between two paths. Importantly, doing nothing is itself a choice with legal consequences.

Option 1: Do Nothing (Stay in the Class)

• You remain a class member automatically — no form or action is required.
• You may be eligible for money or other benefits if the plaintiff wins at trial or the case settles, but only if you choose to tender your shares in Funds V and VI; no class member is forced to terminate their investment.
• You give up the right to sue Cardone Capital or Grant Cardone separately over these same claims.
• You will be bound by whatever judgment the court reaches, win or lose.
• If the plaintiff loses, you will not owe any costs or fees as a result of the case.

Option 2: Ask to Be Excluded (“Opt Out”)

• Deadline: July 14, 2026 — either submitted online through CardoneClassAction.com, or postmarked by mail to JND Legal Administration by that date.
• You keep your investment in the Funds untouched.
• You give up any right to money or benefits that might come from this lawsuit.
• You are not bound by the outcome of the case.
• You retain the right to sue Cardone Capital and Grant Cardone on your own, at your own expense, over the same claims.

A mailed opt-out request must include: the case name and number (Pino v. Cardone Capital, LLC, et al., Case No. 2:20-cv-08499-JFW (KSx)), your full name, address, email, phone number, a clear statement that you want to be excluded, and your signature. It should be mailed to:

Pino v. Cardone Capital, LLC, et al., c/o JND Legal Administration, P.O. Box 91224, Seattle, WA 98111

Do I Need My Own Lawyer?

No. The court has appointed Susman Godfrey L.L.P. as Class Counsel, led by Marc M. Seltzer, to represent the class at no upfront cost. If the case succeeds, Class Counsel’s fees and costs will be paid out of any money recovered for the class, subject to court approval — not billed directly to individual investors. If the case is unsuccessful, class members owe Class Counsel nothing. You are free to hire your own attorney at your own expense if you prefer independent representation, but it is not required to participate in or benefit from the case.

Key Dates Timeline

Date	Event
September 2020	Original complaint filed by Luis Pino
April 2021	District court dismisses the case
June 10, 2025	Ninth Circuit reverses dismissal in part
March 27, 2026	Class certified by Judge John F. Walter
April 13, 2026	Class notice and documents due
July 14, 2026	Deadline to opt out of the class
March 9, 2027	Jury trial scheduled to begin

Other Legal Matters Involving Grant Cardone in 2026

Separate from the Pino class action, Grant Cardone is a defendant in two individual civil lawsuits that are sometimes confused with the class action because they surfaced in the same news cycle. Neither is a class action and neither is connected to Funds V or VI:

• Robb v. Cardone (Circuit Court of Columbia County, Florida, Case No. 2026-CA-180): Cardone Capital’s former Chief Marketing Officer, Brian H. Robb, filed a lawsuit in May 2026 seeking more than $1 billion in damages. Robb alleges defamation and whistleblower retaliation, claiming Cardone used his social media following to attack him after Robb reported suspected fraud and cooperated with FBI investigators for roughly 18 months. Cardone and Cardone Capital have not been found liable, and the allegations remain unproven.
• Howell v. Cardone (Miami-Dade Circuit Court, Florida): Chealse Sophia Howell, a former Miss Canada, filed a defamation lawsuit in early 2026 seeking $500 million, arising out of a separate landlord-tenant/eviction dispute with Cardone and his wife, Elena Cardone. Howell alleges Cardone published statements on social media implying she was involved in criminal conduct. This case is also unresolved.

Neither of these cases has reached a settlement or judgment, and neither offers any claims process for the general public. If you are researching the Pino securities class action specifically, these two cases do not affect your rights or options as a Fund V or VI investor.

Frequently Asked Questions

Is this a settlement?

 No. As of this writing, Pino v. Cardone Capital has not settled. The class has been certified and a trial is scheduled for March 9, 2027. This article will be updated if the case resolves through settlement or verdict before then.

Will I automatically get paid? 

No. Staying in the class does not guarantee payment. If the plaintiff wins or the case settles, class members will receive further instructions on how to claim money or benefits, and payment may depend on tendering your fund shares.

What if I already sold my interest in Fund V or VI? 

The notice defines class membership by whether you purchased or acquired an interest through the public offering, not by whether you currently hold it. If you are uncertain about your status, contact the Administrator or Class Counsel directly.

Can the deadlines change?

 Yes. The July 14, 2026 opt-out deadline and the March 9, 2027 trial date can be moved, canceled, or modified by the court. Class members are advised to check CardoneClassAction.com regularly and will be notified by email of any changes.

Where can I get official information?

• Website: CardoneClassAction.com
• Phone: 1-833-216-4461
• Email: [email protected]
• Mail: Pino v. Cardone Capital, LLC, et al., c/o JND Legal Administration, P.O. Box 91224, Seattle, WA 98111

Disclaimer

This article is for informational purposes only and does not constitute legal advice. Case details, deadlines, and class definitions are subject to change by court order. Always verify current deadlines and your eligibility directly through the official case administrator, CardoneClassAction.com, or by consulting a licensed attorney before making any decision about your legal rights.