LexisNexis® Legal Newsroom
    Texas High Court Mulls City's Immunity From Land-Option Suit

    Texas’ highest court on Wednesday grappled with whether a developer that sold land to a city for use as a public park can sue for damages after the former owner’s contractual option to repurchase the property was denied. ...read more

    Butler Snow Opens New Nashville HQ Following 2012 Influx

    Butler Snow O'Mara Stevens & Cannada PLLC has opened offices and a conference center in a new Nashville, Tenn., tower, the firm announced Wednesday. ...read more

    Genworth Sells Wealth Unit In $413M Aquiline, Genstar Deal

    Life and mortgage insurer Genworth Financial Inc. will sell its wealth-management unit to a partnership of Aquiline Capital Partners and Genstar Capital for $412.5 million, the firm announced Wednesday. ...read more

    BioMed Realty Strikes $640M Merger Deal With Wexford

    BioMed Realty Trust Inc. said Wednesday that it has inked a $640 million deal to merge with private equity-owned Wexford Science & Technology LLC in a bid to cement its position as a leading provider of real estate to the life science industry. ....

    How Facebook Clinched Its Campus Approvals

    A series of environmentally focused pledges along with community outreach beyond what was negotiated from Facebook Inc. went a long way in securing approval for the company's proposed Menlo Park, Calif., campus expansion — and other developers...

    Pricey Land Complicates Options For Ailing NYC Hospital

    Sky-high valuations for the real estate on which Brooklyn, N.Y.'s nearly insolvent Long Island College Hospital sits, estimated to be as much as $500 million, are creating a “perverse financial incentive” and complicating legal efforts...

    Banks Ask 2nd Circ. For Discovery Relief In FHFA Cases

    Morgan Stanley and 13 other banks facing Federal Housing Finance Agency suits over $200 billion in allegedly toxic mortgage-backed securities urged the Second Circuit on Tuesday to reverse several discovery rulings, saying a federal judge has deprived...

    Sanford Heisler Doubles Up On NYC Office Space

    Sanford Heisler LLP — still basking in its $763 million whistleblower lawsuit victory over Amgen Inc. in December — is set to nearly double the size of its New York office space to 9,000 square feet, the employment law firm said Tuesday. ...

    Bans On Force-Placed Perks May Be Wake-Up Call For States

    Following New York's lead, the federal agency in charge of Fannie Mae and Freddie Mac moved Tuesday to forbid insurers from handing fat commissions to banks for their force-placed business, potentially galvanizing insurance regulators across the country...

    RBS Fudged Value Of $291M In MBS, Assured Says

    Assured Guaranty Municipal Corp. hit financial services company RBS Securities Inc. with a fraud suit Tuesday in New York federal court accusing it of misrepresenting the value of $291 million worth of residential mortgage-backed securities. ...read more

    Priceline Has No Fiduciary Duty In Hotel Bidding: 2nd Circ.

    The Second Circuit on Wednesday tossed a putative class action against Priceline.com claiming it violated its fiduciary duty by not telling customers it pockets extra money it makes from their transactions using its service to bid on hotel rooms, saying...

    Unregistered Brokers May Bring Aiding And Abetting Liability

    A pair of related U.S. Securities and Exchange Commission settled enforcement actions recently demonstrated the potential liability of using an unregistered consultant. While these cases involve a private equity manager and its funds, they are significant...

    Fannie, Freddie Exempt From Pa. Transfer Taxes, Judge Says

    Fannie Mae and Freddie Mac’s congressional charters exempt the two entities from paying real estate transfer taxes, a Pennsylvania federal judge ruled Tuesday while axing a putative class action lodged on behalf of the state’s 67 counties...

    Jury Convicts BBC Equities Founder, Son Over $50M RE Scam

    Michigan-based BBC Equities LLC founder John Bravata and his son were convicted Wednesday by a federal jury on charges that they conspired to bilk investors out of more than $50 million through a real estate scheme in which they allegedly used investor...

    Lenders 1st In Line For Payout From $21M Vegas Property Sale

    A group of syndicated lenders should be the first recipients of proceeds from the $21 million sale of a planned residential property in Las Vegas, taking priority over the 1,340-acre property's developers, a Nevada bankruptcy judge ruled Monday. ...

    Cole To Discuss Sweetened $9.7B American Realty Bid

    A hesitant Cole Credit Property Trust III Inc. board on Thursday agreed to meet with American Realty Capital Partners Inc. to discuss its sweetened $9.7 billion takeover bid, opening the possibility that Cole would consider its smaller rival's reworked...

    Condo Owners Hit Board With $40M Suit Over Antenna Farm

    Condominium residents hit the building’s management board with a $40 million lawsuit in New York state court Tuesday, claiming the board plans to sign a lease allowing Verizon Wireless to install 19 towers and antennas that could cause severe health...

    Texas Condo Owners Hit Metals USA With Defective Roofs Suit

    A Dallas homeowners association accused a unit of Metals USA Inc. of making and selling defective roofs installed atop buildings in a 172-unit condominium complex that leaked and damaged property, according to a complaint removed to Texas federal court...

    Polsinelli Shughart Relocates To New LA Digs

    The California office of steadily expanding Polsinelli Shughart PC has a new home and a 10-year lease in a western Los Angeles tower, the firm announced Thursday. ...read more

    $160M Mixed-Use Project Slated For Colo. Medical Area

    Real estate investor Waveland Ventures LLC will lead a joint venture in constructing a $160 million hotel, residential and retail development near a complex of medical facilities outside Denver and hopes to begin construction later this year, it announced...

    Platinum Properties, SNR Denton Sued Over $13M NYC Apt. Buy

    Platinum Properties Inc. and SNR Denton were hit with a $2 million suit in New York state court on Wednesday by an online retail entrepreneur who claims Platinum fraudulently induced him to spend $13 million for a 200 Chambers St. apartment and failed...

    NY Judge May Have Gone Too Far In MBS Settlement Push

    District courts generally have broad discretion to pressure parties to settle, but a New York federal judge’s decision to severely limit discovery for 15 banks facing government suits over $200 billion in toxic mortgage-backed securities may have...

    Boies Schiller Hit With Sanctions Bid In $350M Marriott Row

    Boies Schiller & Flexner LLP was accused Thursday of ignoring a conflict of interest stemming from its past representation of Host Hotels & Resorts when the firm targeted it in a $350 million antitrust lawsuit alleging the real estate investment...

    3 Changes To Watch In Commercial Property Due Diligence

    Environmental due diligence is changing in the commercial real estate market. There are three important developments that practitioners should keep an eye on in 2013, says William Wagner of Taft Stettinius & Hollister LLP. ...read more

    Chetrit Must Stop Work At Chelsea Hotel Amid Contempt Claim

    The New York City Department of Buildings on Friday ordered the Chetrit Group to stop renovation work at the iconic Chelsea Hotel in response to complaints about the loss of gas, heat and hot water from tenants who plan to bring Chetrit back to court...