NEW YORK CITY—Could the legal troubles of Empire State RealtyTrust executives Peter Malkin and his son Anthony finally be over?They have moved largely toward that outcome with the dismissal oflawsuits brought against them by thousands of investors crying foulover the REIT's IPO last fall.
Backers of the skyscraper-with-the-household-name charged theMalkins with cheating them out of as much as $410 million in profitwhen the Empire State Building and other Malkin-owned office andretail properties were taken public, according to BloombergNews.
New York State Supreme Court Justice O. Peter Sherwood threw outthe lawsuits, saying the investors agreed not to sue the managersin settling a related case for $55 million last year.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
