Class Member Appeals ‘Token’ $9.6M NJ Lien Bid-Rigging Deal

Law360, Washington (March 17, 2017, 8:52 PM EDT) -- A class member unhappy with a $9.6 million settlement of a settlement in a criminal New Jersey tax lien bid-rigging scandal filed an appeal in the Third Circuit on Wednesday, claiming the prediscovery deal represents a pittance in comparison to hundreds of millions in alleged damages.

The brief from Arlene Davies says the scheme, which has resulted in 15 criminal guilty pleas, cost homeowners up to $400 million as conspirators bidding on municipal tax debt at auctions declined to compete so interest rates remained at the...
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