Bollinger Files Suit Against Westfield

SACRAMENTO-Locally headquartered Peter P. Bollinger Investment Co. has filed a lawsuit against Westfield Corporations Inc. seeking damages that it says could be in excess of $60 million. The litigation is related to Fountains, Bollinger’s planned retail development across from Westfield’s Galleria at Roseville Mall, construction for which is set to begin later this spring.

Bollinger alleges that after entering into confidentiality agreements in 2005 so that the two might further discuss a possible joint venture to develop Fountains, Westfield misused the detailed, proprietary information it was provided regarding Bollinger’s prospective tenants, rental rates, construction costs and the like. The lawsuit was filed late last week in Placer County Superior Court.

“Although no ground lease or joint venture agreements were signed, unbeknownst to Bollinger and contrary to the confidentiality agreements, Westfield was inappropriately discussing information with the retail and leasing communities about its attempts to acquire an interest in The Fountains, and providing inaccurate information about Bollinger’s plans for the project,” according to a statement released today by Bollinger. “Westfield exploited this information and contacted many of Bollinger’s current and prospective tenants of The Fountains, and offered these tenants attractive lease terms to locate at the Westfield Galleria instead of Bollinger’s Lifestyle project.”