The Real Deal Reports on Real Estate Lawsuit in South Florida
The Real Deal South Florida Real Estate News reported on Brewer, Attorneys & Counselors client Wayne Goldberg, a retired hospitality executive, suing the development group Fernbrook Florida over a penthouse condo he alleges he was falsely induced to purchase in the luxury Sabbia Beach development in Pompano Beach, Florida, overlooking the Atlantic Ocean.
The lawsuit was filed in Broward County Circuit Court and the complaint alleges that the developer “held units off the market in order to create the appearance that units were in high-demand and to inflate sales prices.” The lawsuit contends that when he visited the penthouse that he “observed multiple severe, material deviations from the agreement and its amendments” and that a personal elevator had been placed in front of the “much-vaunted windows of the penthouse overlooking Pompano Beach.”
Dallas Morning News Reports on High-Profile Real Estate Lawsuit
Brewer, Attorneys & Counselors announced the filing of a lawsuit on June 18, 2019, on behalf of its client, Megatel Homes, against United Development Funding and Centurion American Development Group. Dallas Morning News Real Estate Editor Steve Brown wrote about the filing in an article titled, “Dallas builder Megatel seeks millions in damages from developer and finance firm.”
The lawsuit, which was filed in the 160th Judicial District Court in Dallas County, Texas, alleges that Megatel’s joint venture partners, UDF and Centurion, conspired to take advantage of Megatel. The lawsuit alleges breach of fiduciary duties and breach of good faith and fair dealing, among other claims.
"As alleged in the petition, our client believes that defendants conspired against their company to unfairly remove it from significant projects and to gain financial benefits to which defendants were not entitled," William A. Brewer III, partner at Brewer, Attorneys & Counselors and counsel for Megatel, said in a statement. Megatel is seeking more than $100 million.
The article reported that, “Among Megatel's charges is a claim that Centurion American sold homebuilding sites in its new communities that had been pledged to Megatel to other builders in order to raise cash.”
Megatel Homes was founded by brothers Zach and Aaron Ipour, and is a top-ten homebuilder in Dallas-Fort Worth.
Brewer Firm Announces Lawsuit Against Wafra
On April 11, 2019, Brewer, Attorneys & Counselors announced that it has filed an unlawful termination and age discrimination lawsuit on behalf of its client, Francis (“Frank”) Lively, against Wafra Investment Advisory Group, Inc. (“Wafra”) and its Chief Executive Officer Fawaz Al-Mubaraki (collectively, “Defendants”). The lawsuit alleges that Lively, a successful 64-year-old real estate executive, was terminated as part of an unlawful discrimination and retaliation campaign directed against elder employees at Wafra. That same day, Bloomberg reported, “Former Wafra Real Estate Head Sues Over Age Discrimination.”
Please find the press release here, summarizing some of the key claims and allegations. The advisory also includes a comment on behalf of plaintiff, Mr. Lively, from William Brewer.