In The New York Times, Gregg Weiner and Alexander Simkin Discussed $60 Million Settlement of New York City Third Party Transfer Lawsuit

In an article in The New York Times, co-chair of the global litigation & enforcement group Gregg Weiner, and litigation partner Alexander Simkin, discussed a $60 million class action settlement reached on behalf of New York City homeowners whose properties were seized without compensation under New York City's Third Party Transfer program.

Ropes & Gray served as lead pro bono counsel in the case. The settlement, which is subject to preliminary court approval, is believed to be one of the largest paid by the City in the past decade.

"It's an example of a program that may have had good intentions but went wrong and was really quite improper, harmful and unconstitutional," said Gregg.

The City is currently proposing to revive the Third Party Transfer program, with reforms. However, Alex noted that the proposed reforms "don't cure the fundamental defect" in the program. Namely, that "you can't take people's properties in a racially discriminatory way, and if you're taking more than the city's owed, you need to compensate people for that."