3rd Circ. Scraps Philly Tenants' Mismanagement Suit

Law360, New York (April 26, 2012, 8:07 PM EDT) -- The Third Circuit on Thursday refused to revive a proposed class action brought on behalf of more than 600 tenants in common who claim their interests in the Terminal Commerce Building in Philadelphia were mismanaged.

In affirming the lower court's decision to dismiss the case, a three-judge panel found that lead plaintiff Ronald M. Appel waited too long to file suit, and that his claims were barred by Pennsylvania law.

Appel's attorney Cyrus J. Bloom said Thursday that the opinion was “erroneous, period.” Bloom said he...
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