Calif. Court Revives Santa Monica Luxury Apartment Row

Law360, New York (March 19, 2014, 5:54 PM EDT) -- A California appeals court on Tuesday revived a Santa Monica property owner's lawsuit claiming that real estate investor Isen Investments Inc. and others spread vicious rumors in an attempt to buy luxury co-op apartments at a discount.

The panel ruled Tuesday that plaintiff Omar Spahi and his family, who own various units in the 317-unit luxury residential cooperative building Ocean Towers, should be allowed to pursue their case against real estate investor Richard Stone and Isen Investments, reversing the trial court's decision to toss claims that Stone...
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