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Originally Posted by afc wimbledon
This is the part I don't understand, the GI has a right to sue, any citizen does in order to enforce the law.
Only one party is private in the deal, and both the city and the GI represent the taxpayers, so how is it interference?
I mean I understand it does interfere with the sale, but it is a perfectly legal lawsuit.
This strikes me as being in the same ballpark as a group of shareholders suing the board of a company in a takeover battle.
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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. Such conduct is termed tortious interference with prospective business relations, expectations, or advantage or with prospective economic advantage.
http://en.wikipedia.org/wiki/Tortious_interference
And a lawyer specializing in this:
http://www.businesslawyeraustintx.co...erference.aspx
This deal started off with a good rating from Standard & Poors and a normal, in-the-market interest rate and by all accounts, fairly normal interest from potential investors.
Goldwater sent letters to investment houses and certain investors telling them they would be suing to prevent the deal.
Any prudent manager of money would walk away from such a scenario, not because it was a crappy deal, but because of the threat of litigation. There's just too many other options to look at and you just don't have to get involved.
What Goldwater did is different than stepping up and saying the deal is lousy and people should avoid it. They did actively interfere in business relationships that would have likely occurred if they hadn't threatened a lawsuit.
It is only Goldwater's opinion the Coyotes deal is illegal. That doesn't make it fact.
Goldwater can say they represent taxpayers but, as a private group, there is no legitimacy to that.
If the deal collapses, the lawsuits will be enormous.
Cowperson