2nd Circ. Upholds NYC Rent Racketeering Settlement

Law360, New York (October 2, 2013, 5:57 PM EDT) -- The Second Circuit upheld on Monday the validity of a 2011 settlement between landlord Pinnacle Group and a class of 22,000 tenants who had accused the company of rent racketeering, a decision that will clear the way for payouts. 

A small subclass had appealed the settlement, saying that it unfairly excluded claims that occurred before July 2004, the start of the class period. The breakaway plaintiffs also disapproved of a provision under the agreement that Pinnacle is not liable for charging high rents based on those...
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