New York – A federal appeals court has upheld a settlement affecting 20,000 rent-regulated New York City tenants.
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The ruling means they can seek individual compensation from their landlord for rent overcharges and other complaints.
The United States Court of Appeals for the Second Circuit on Monday upheld the 2011 settlement of a class-action lawsuit brought by the tenants against the Pinnacle Group.
The attorney who negotiated the settlement told the New York Times (http://nyti.ms/1bsIoBV ) the amount could reach more than $10 million depending on the number of claims.
The tenants had accused the company of conspiring to fraudulently raise rents in more than 400 buildings it owns.
The settlement came into question after a breakaway tenant group appealed the settlement in an effort to include other types of claims.
