LPGM

LPGM Wins Early Dismissal for Investment Banking Clients Regarding $120 Million Financing

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Summary

In early January 2024, New York State Supreme Court Justice Melissa Crane granted LPGM’s motion to dismiss its investment banking clients and their principals from a complaint alleging they tortiously interfered with a contract pertaining to $120,000,000 in financing for a residential real estate project.

LPGM’s boutique investment banking clients advised the project’s builder and developer, which resulted in a successful capital raise for the 298-unit project. When another investment bank sued LPGM’s clients, the developer and other parties, alleging it was entitled to commissions on the financing, LPGM moved to dismiss before its clients were forced to engage in expensive and time-consuming discovery. At oral argument, Judge Crane agreed that the tortious interference claim was improper and dismissed the complaint as to LPGM’s clients.

LPGM’s commercial litigators regularly represent investment banks and others in matters alleging breach of contract, fraud, tortious interference with contract, fraudulent inducement and other claims involving real estate financing and commissions.

Contact: LPGM Partner James F. Moyle, jmoyle@lpgmlaw.com, 212-784-2407.