A minority investor’s suit against a partnership once controlled by the bankrupt Wall Street company Lehman Brothers has been dismissed by the Appellate Division, First Department.
The panel found the plaintiff, Cambridge Capital Real Estate Investments, which lost its entire $20 million investment, “fail[ed] to allege facts demonstrating the absence of fairness, or that it did not receive the substantial equivalent in value of what it had before” Archstone Enterprise, the Lehman-controlled entity, sold its real estate portfolio for $16 billion in 2012.
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