Kasowitz Wins Appellate Victory for Real Estate Developer JDS
Kasowitz Benson Torres obtained a significant appellate victory on August 30, 2019, for client JDS Development, a leading real estate development and construction firm. The Second Circuit unanimously affirmed the complete dismissal of RICO Act claims filed against JDS and several of its affiliates. Plaintiffs AmBase and two related investment entities were seeking treble damages arising out of their claimed loss of a $70 million investment. The dismissed claims relate to JDS’ development of the iconic 90 story, luxury condominium building at 111 West 57th Street in Manhattan. The Second Circuit victory follows Kasowitz previously obtaining the dismissal of a number of state law claims by the same plaintiffs related to the same project.
The Kasowitz team was led by partner Paul M. (“Tad”) O’Connor and included partner Jed I. Bergman and associate Jennifer McDougall.