Books and Records Litigation – Round 2

  • Based on our partial document inspection and other information we sent the co-op a follow-up document inspection request. We wrote this letter because we concerned there may be significant undisclosed health and safety risk related to the building. These are in addition to financial reporting concerns.
  • Board President David Munves’ disappointing, but not unexpected response largely denying our good-faith request.
  •  We ultimately we were left with no choice but to, once again, commence litigation on this matter. It’s remarkable that the co-op board would work so hard to prevent a shareholder from accessing corporate documents of their single largest investment.
  • Judges favorable decision allowing inspection and rejecting the co-op argument I was acting in bad faith.
  • Recent press  from Habitat Magazine on the matter. This is an important victory to all New York co-op shareholders. It provides a precedent to help co-op shareholders improve their buildings’ governance.

Central Court Documents for Books & Record Litigation – Round 2

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