EPR Properties Announces Dismissal of Lawsuit Brought by Concord Associates,
KANSAS CITY, Mo. -- October 1, 2013
EPR Properties (NYSE:EPR) today announced that the United States District
Court for the Southern District of New York has dismissed a $1.5 billion
antitrust suit against EPR Properties, EPT Concord, LLC, and EPT Concord II,
LLC (collectively, “EPR”), Empire Resorts, Inc. and Monticello Raceway
Management, Inc. (collectively “Empire”), and Kien Huat Realty III Limited and
Genting New York LLC (collectively, “Genting”).
EPR and all other defendants moved to dismiss the amended complaint on a
number of grounds, including Plaintiffs’ failure to plead antitrust injury,
failure to plead appropriately tailored product and geographic markets, and
failure to plead monopoly power or to allege facts showing that defendants
engaged in a conspiracy to monopolize.
On September 18, 2013, in a decision filed under seal, the U. S. District
Court dismissed Plaintiffs’ entire amended complaint. Specifically, the Court
dismissed Plaintiffs’ antitrust claims against all defendants with prejudice,
meaning that they are dismissed on the merits subject to Plaintiffs’ right to
appeal, and the Court dismissed Plaintiffs’ state law claims without
prejudice, meaning that they could be pursued further in a state court.
David Brain, President and CEO of EPR Properties commented, “We are pleased
with the Court’s decision to grant our motion to dismiss this complaint. It
has always been our position that the claim was without merit and we are
gratified that the Court has agreed with our argument. ”
About EPR Properties
EPR Properties is a specialty real estate investment trust (REIT) that invests
in properties in select market segments which require unique industry
knowledge, while offering the potential for stable and attractive returns. Our
total investments exceed $3.2 billion and our primary investment segments are
Entertainment, Recreation and Education. We adhere to rigorous underwriting
and investing criteria centered on key industry and property level cash flow
standards. We believe our focused niche approach provides a competitive
advantage, and the potential for higher growth and better yields. Further
information is available at www.eprkc.com.
Brian Moriarty, 1-888-EPR-REIT
Vice President - Corporate Communications
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