Deals
Empire State Building Settlement to Get Approval by Judge
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A judge in New York said he intends to approve a $55 million settlement of lawsuits over a plan to take the Empire State Building public in potentially the second-biggest offering for a U.S. real estate investment trust.
Justice O. Peter Sherwood in state Supreme Court in Manhattan said today he will issue a written ruling. He gave the accord preliminary approval in February and rejected a request to intervene in the case by investors opposed to the settlement including Andrew Penson, owner of Grand Central Terminal.