Raymond Road Associates (Blue Back Square) v. Taubman Centers
Analysis Group client Blue Back Square agreed to a $34 million settlement with The Taubman Company and related entities. The settlement was related to losses caused by a yearlong construction delay resulting from 11 separate anti-Blue Back lawsuits. The defendants filed the suits despite two local referendums approving construction of the $159 million retail-residential-commercial Blue Back Square complex. The associated delays resulted in lost revenue and increased financing and construction costs for Blue Back, which finally opened just as the national economy began to contract in 2007.
Blue Back Square counsel Day Pitney LLP retained Analysis Group to calculate damages in the case. Chairman Bruce Stangle, Managing Principal Gaurav Jetley, and Vice President Michael Holland supported affiliate Professor Timothy Riddiough in his evaluation of damages suffered by Blue Back Square as a result of the delay. Professor Riddiough prepared an expert report that quantified the impact of the delay on Blue Back Square's costs and revenues.
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