Confidential
Settlement – $2,960,000Court
L.A. Superior Pomona
Attorneys
Plaintiff
Keith A. Sipprelle
(Van Etten Sipprelle LLP)
Defendant
Facts
This lawsuit arose out of Plaintiffs' 1988 purchase, from Defendant city's redevelopment agency, of a vacant parcel. Plaintiffs purchased the land for the purpose of developing an entertainment center on the site. During the same time period, Defendant city's agency was attempting to develop another large, nearby site as a mall. Defendant city's agency was assisted by Defendant consultant/negotiator (utilized because of his knowledge of the industry and previous involvement with development of the surrounding area) in its efforts to develop both Plaintiff's parcel and the mall site; and the consultant had a significant fee interest in the development of both properties. The consultant/negotiator had assisted the agency in acquiring the site as part of a previous unsuccessful development plan for the parcel.
Settlement Discussions
Offers and demands exchanged prior to these agreements, were not disclosed.
Damages
Plaintiffs claimed that their inability to develop the parcel resulted in losses of approximately $3,500,000; they also sought unspecified punitive damages.
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