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Re: Manhattan Club Lawsuit-Early Maintenance Fees (by Craig R.):

Chris,

I think the timeframe will be determined by the willingness of the Eichners to settle, and that depends on the strength of the NYAG's position.

My framework is based on what I know about the way the SEC works in securities cases. I remember that lawyers used to say that you do not mess with the SEC because a bad result can put you out of business.

That is why so many are settled, in my opinion, and I think the Eichners face that "going concern" risk here.

So, if the NYAG follows this pattern, expect a long time with no activity while they prepare their case, and then expect things to happen pretty quickly.

Finally, any settlement reached by the NYAG does not preclude further lawsuits from the owners, but I would expect that the defendants would want to avoid individual action and try to settle with a class.

But, this is all speculation on my part, and I have no special insight to what the NYAG strategy is or what they want.