The lawsuit would revolve around Goldwater attorney Carrie Ann Sitren's letters to bond rating agencies and underwriters in January notifying them that Goldwater was looking into potential litigation to block the city's agreement, sources knowledgeable about the deal said.
The letters said Goldwater had not made a final decision but that Glendale's deal could amount to an illegal government subsidy of private business.
Glendale is expected to argue the letters represented an unlawful interference in the business affairs of the city, also known as tortious interference.
http://www.azcentral.com/community/g...-suit0306.html
Wooot!!!!
Hit the nail right on the head with tortius Interference.
I love when that happens.
Interesting its the same hammer = tortious interference - Glendale was going to use on Jim Balsillie and now they're pulling it out once again.
Tortious interference with business relationships occurs where the tortfeasor acts to prevent the plaintiff from successfully establishing or maintaining business relationships. This tort may occur when a first party's conduct intentionally causes a second party not to enter into a business relationship with a third party that otherwise would probably have occurred.
http://en.wikipedia.org/wiki/Tortious_interference
Publicly saying you think a deal is crappy - which is the right of anyone - is a different thing than Goldwater's rather deliberate and direct threats aimed at influencing potential buyers.
Did they go too far?
There's a lot on the line for Goldwater and its principal partners. I would find it pretty unlikely the primary people at Goldwater are actually insured against loss for this kind of thing. They are, after all, an agency that goes out of its way to look for trouble, actively suing institutions and expecting to be counter-sued. Not many insurance companies would logically want to be a part of that. I would think but just guessing.
Love it.
Cowperson