Empire State Building Managers Sued Again by IPO Foes
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The Empire State Building’s managers were sued for the second time in two weeks over their decision to take the iconic New York skyscraper public last year.
Hope Ratner and Mary Jane Fales, two of about 2,800 longtime investors in the 103-story tower, filed the lawsuit today in New York State Supreme Court in Manhattan. The plaintiffs, who seek class-action status for their complaint, accuse the managers, Peter Malkin and his son Anthony, of rejecting higher offers for the building, including one for about $500 million more than investors received for their interests.