Empire State Building IPO nearing crucial legal decision

04/26/2013 | Bloomberg Businessweek

The legal challenge by investors who oppose the plans to take public the Empire State Building in New York City is nearing a pivotal ruling. Next week, a state Supreme Court judge will decide whether the unit holders can be bought out for $100 a share. "This represents a kind of watershed moment for the case," said David Reiss, a professor of real estate finance law at Brooklyn Law School.

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