Empire State Building Investor Appeals $55M Settlement

Law360, New York (March 19, 2014, 3:32 PM EDT) -- An Empire State Building investor on Tuesday appealed the May approval of a class action settlement over a deal that rolled the iconic building into a real estate investment trust, arguing that the class did not properly represent — and the settlement did not benefit — all investors.

Alan L. Kovacs, a trustee of the Hilda Kovacs Family Trust, which holds an interest in the building through Empire State Building Associates, argues that the ESBA investors should have been represented as a separate class or sub-class...
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