Stout was engaged to provide expert valuation and testimony in a shareholder dispute involving Riverview Realty Partners, which is a real estate investment trust (REIT), and Five Mile, which is a private equity firm. At issue was the sale of the IBM Plaza Building, which is a 1.8-million-square-foot office tower in downtown Chicago. The “class” alleged that the REIT sold the property for millions of dollars less than the property was actually worth, thereby depriving the “class” from receiving their fair share of the property value.
Stout was hired by Winston & Strawn and Goodwin Procter (attorneys for the defendants), to prepare an expert valuation of the IBM Plaza Building and provide expert testimony in the case. In addition, we were asked to provide a rebuttal (expert report and testimony) to the expert valuation report submitted by opposing counsel.
Stout’s expert testified at deposition in the case, after which the parties agreed to a settlement that was very favorable to our clients.