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Re: The Manhattan Club Lawsuit - RedWeek's Report & Most Recent Info

I have no idea what the settlement entails, but I can speculate. My guess is that there will be an announcement that won't in any way satisfy the owners. There will not be a "put" offer, and owners will still be bound by the contractual terms. HOWEVER, this is the AG settlement, and now the owners can pursue their own legal settlement, hopefully, as a class action. You can assume the Eichners will drag this out, as well, starting with fighting the class status. The sooner that any AG required new buyer sees that they face a tsunami of lawsuits from the people who got duped, the less they are willing to pay -- or even consider the deal. I cannot see this ending well for the Eichners I am no lawyer, but I think the time to hire a lawyer for a class action suit is fast approaching. Since the major relief the owners will seek is to get out of these illegal contracts, I do not see how the lawyer can work this as a "contingency". I think we will have to pay him/her, and I think it will not be cheap. On the other hand, even though it will take a while and cost a lot, I cannot see how we would lose.