February 20th, 2018

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Early Sullivan Successfully Defends Its Client Against $12.5 Million Claim

Early Sullivan attorneys Mary Kaufman and Zachary Gidding successfully defended, with Scott Gizer, a quiet title action for Defendant CFIC-2014 NV FI-PSC, LLC (“CFIC”) in the Nevada District Court Case entitled LLV Holdco, LLC v. Atalon Management Group LLC, et al, where they prevailed on summary judgment.

CFIC purchased vacant lots of land in 2014 for $12.5 million from other defendants, who the Plaintiffs alleged fraudulently induced the Plaintiffs to waive their right of first refusal to purchase those lots in 2012. Plaintiffs sought to quiet title to the subject property against CFIC.

CFIC defended the claim on the ground it was a bona fide purchaser with no knowledge of the purported fraudulent conduct of one of the other defendants, and further argued that even if CFIC was under a duty of inquiry regarding the waiver that Plaintiffs signed in 2012, CFIC should still prevail because, based on key testimony obtained by Early Sullivan, Plaintiffs’ board members admitted that if CFIC had approached the Plaintiffs about the waiver, the Plaintiffs would have confirmed its validity.

The Court agreed with Early Sullivan’s client CFIC and granted its motion for summary judgment.