Professional Negligence And Other Tort Claims
These cases don’t involve any parties represented by Peter Christensen/Christensen Law Firm. I don’t publish information about legal matters involving clients.
Alternative lender Sharestates lawsuit against AMC and appraiser alleging negligently inflated $3m+ residential appraisal (and other claims against other parties.)
In connection with one partner buying another partner’s interest in a building, an arbitration required appraisals on each side: one appraiser values the property (for purposes of determining rent) at $14 million, the other appraiser’s value is $38 million. The arbitrator’s role was merely to average the two appraisals and awarded $28 million. One side was not happy and sued the other side’s appraiser for both negligence and fraud. On a motion to dismiss, the negligence claim is dismissed because no duty was owed by the appraiser to the other side, but the fraud claim is permitted to go forward.
Attempted class action by purchasers of properties in luxury developments for which Credit Suisse provided loans to developers and appraisal firm performed appraisals. Alleged appraisals were inflated. Negligence claims were dismissed ultimately against appraisers based on lack of duty to purchases.