New York State Supreme Court Building in New York City. (Photo: Ryland West/ALM) NextEra Energy Pension Plan Connected to Allegedly Fraudulent Real Estate Action
"It's another thing to be exposed to a broad claim where the potential award could conceivably be in the tens of millions of dollars if the judge allows the valuation of the underlying asset," said Jason Giller, a managing partner at Giller Law who is not involved in the case.
September 09, 2024 at 04:06 PM
4 minute read
What You Need to Know
- LCN Capital Partners LP is accused of fraud in a real estate deal connected to the NextEra Energy Inc.'s pension plan.
- NextEra Energy invested $150 million of pensioner money into an LCN Capital fund.
- The case is pending in the New York Supreme Court.
Real estate investors with an investment of $150 million from NextEra Energy Inc.'s pension plan face an amended counterclaim in a state court in New York after the presiding judge allowed the seller of commercial land to bring fraud claims against the fund.
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