Empire State Building Roll-Up Draws $500M Investor Suit

Law360, New York (January 16, 2014, 3:26 PM EST) -- The managers of the Empire State Building were again sued Tuesday over their recent roll-up of the property into a public real estate investment trust, with a new class of investors claiming they lost hundreds of millions of dollars when alternatives to the deal were ignored.

A class of investors led by a trustee of the Brian A. Liles Living Trust echo the claims of several other groups who have sued Malkin Holdings LLC and its officers over the controversial transaction, arguing that the defendants improperly...
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