Judge Finds $15M Texas Project Suit Should Be Tossed

Law360 (March 3, 2021, 7:34 PM EST) -- A Texas magistrate judge recommended the dismissal of a Dallas finance company's suit accusing an Austin, Texas, suburb of misleading it into providing $15 million to revive a failing real estate project, saying the financier's allegations don't support a wrongful takings claim.

In a report filed Tuesday, U.S. Magistrate Judge Susan Hightower urged U.S. District Judge Lee Yeakel to throw out Preston Hollow Capital LLC's suit against the city of Hutto and city development entity Cottonwood Development Corp. Judge Hightower said Preston Hollow failed to show how the actions of the city and Cottonwood Development constituted a takings claim under the...

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