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CBRE, West Indies Developer Settle $45M Appraisal Suit

Law360, New York (April 12, 2012, 5:15 PM EDT) -- A Florida federal judge on Wednesday threw out a $45 million suit accusing real estate services firm CB Richard Ellis Inc. of providing misleading appraisals that inflated the value of British West Indies property, after the parties filed a joint stipulation of dismissal last week.

U.S. District Judge Jose E. Martinez entered an order dismissing the case with prejudice and maintaining jurisdiction over the suit in order to enforce a settlement that had been reached through mediation. The terms of the settlement were not immediately clear.

“After the dismissal of three of four counts against CBRE in late February, CBRE is...

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Case Information

Case Title

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Case Number

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Court

Florida Southern

Nature of Suit

Fraud or Truth-In-Lending

Judge

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Date Filed

January 3, 2011

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