SACRAMENTO — A jilted consortium of investors sued the state today after Gov. Jerry Brown pulled the plug on the sale of 11 state-owned buildings.
In a complaint filed in Los Angeles County Superior Court, California First says state officials breached a signed contract to sell the facilities for $2.3 billion. The deal, negotiated by the Schwarzenegger administration, was expected to net approximately $1.2 billion for California’s beleaguered budget.
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