NEW YORK CITY-Empire State Realty Trust Inc., a real estate investment trust that will be merged into a publicly-traded company by Malkin Holdings LLC, was sued by an investor who objects to the listing on the New York Stock Exchange.
Three weeks ago, Malkin filed plans with the SEC to raise $1 billion for its initial public offering and consolidate both the company’s private entities and its public LLCs into a corporation as a means to achieve liquidity, streamline business operations and reduce conflicts of interest, GlobeSt.com previously reported.
Leon Meyers, a passive investor in Malkin’s public LLCs such as Empire State Building Associates LLC; 250 West 57th Associates LLC; Marlboro Building Associates LLC; 1350 Broadway LLC; 112 West 34th Street Associates LLC; and 1400 Broadway Associates LLC, filed a class action complaint, Meyers vs. Empire State Realty Trust, Inc., in New York State Supreme Court on March 1.
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