Analysis of Property Values amid Allegations of Contamination
Analysis Group was retained by a large utility facing a putative class action brought by private homeowners claiming that discharge from one of our client's facilities contaminated their properties and caused a reduction in their property values. We analyzed local real estate sales data and compared changes in property values in the area plaintiffs claimed was contaminated against changes in property values in nearby communities unaffected by the alleged contamination. Our analysis revealed that after controlling for overall market conditions, prices in the affected area did not decline after the alleged contamination occurred.
In this matter, we also assisted counsel in evaluating the analyses of plaintiffs' experts and taking expert depositions on issues related to land appraisals, contamination, and "stigma" damages.
The plaintiffs' motion for class certification was denied.