Ron Klasko recently joined Mona Shah and John Pratt on the podcast Global Investment Voice to discuss the preliminary injunction that reopened the EB-5 regional center program. The litigation challenged USCIS’ interpretation of the EB-5 Reform and Integrity Act of 2022 that all previously-approved regional centers lost their regional center designations upon the passage of the new EB-5 law, effectively shutting down the regional center program.
Ron, alongside firm partner Daniel Lundy, served as co-counsel with Paul Hughes representing IIUSA, the regional center trade group, and its over 100 regional center members, as amicus curiae and putative plaintiff in the litigation. In this podcast, he discusses the legal arguments they used, what might the future hold, and what projects and investors should do right now.
You can listen to the podcast here to hear the lively discussion of this unprecedented time in the EB-5 program.