Bell Nunnally Partner Kartik R. Singapura and associates Sydnie A. Shimkus and Laura K. Lavernia secured a $3.3M+ verdict on behalf of the Meyers Group – a privately owned real estate investment firm based in New Jersey and focused on multi-family and office investments. The lawsuit arose out of the Meyers Group’s purchase of a three-building office complex in North Dallas totaling over 300,000 square feet and sitting on 12+ acres. The Meyers Group purchased the complex in 2017 for $12M and initiated litigation later that year after discovering that the seller withheld material documentation during due diligence, which artificially inflated the income generated at the property by tenants.
After nearly 4.5 years of litigation, a jury in August found in favor of the Meyers Group after following a seven-day trial in 44th District Court in Dallas County, Tex. The jury agreed with Meyers Group on issues of liability, including the defendant’s withholding of material information under the parties’ contract, and concurred with the assertion that Meyers Group did not waive its rights to complain about the transaction despite closing on the sale. The case is Kaz Meyers Properties, LLC, MHNC Meyers, LLC, SMHNC Meyers, LLC, YKHNC Meyers, LLC, and YTNC Meyers, LLC v. Shawnee, Inc.
Related Media Coverage:
- “Litigation Roundup: Jury Hands Real Estate Firm $3.3M in North Dallas Office Complex Dispute,” Texas Lawbook, August 29, 2022.