Investors Launch $600M Suit Over Empire State Building Deal

Law360, New York (February 10, 2014, 1:22 PM EST) -- Former investors in the Empire State Building launched a consolidated class action Friday against the executives in charge of the real estate investment trust that swallowed up the iconic building last year and issued an initial public offering, claiming the deal lost investors $600 million.

Meant to combine the allegations in a long string of lawsuits aimed at Malkin Holdings LLC and its officers since the IPO and REIT roll-up were announced in 2011, the consolidated complaint notably does not list Empire State Realty Trust as a defendant, aiming instead to allege unjust enrichment and breach of fiduciary duty against Malkin...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!