Coventry Sues Developers Diversified For $500M

Law360, New York (November 4, 2009, 6:45 PM EST) -- A simmering feud has led investment managers Coventry Real Estate Advisors LLC to accuse Developers Diversified Realty Corp. in a $500 million lawsuit of breaching its contractual duties and profiting on the properties it managed for the fund at the expense of investors.

The suit, filed Wednesday in the Supreme Court of the State of New York, claims DDR violated its contractual and fiduciary duties in its management of a dozen retail real estate projects around the country.

“After attempting for years to compel DDR to...
To view the full article, register now.