Roberts v. Tishman Speyer

Roberts v. Tishman Speyer, 13 N.Y.3d 270 (N.Y. 2009) – a class action brought on behalf of over 27,500 current and former tenants of New York City’s iconic Stuyvesant Town and Peter Cooper Village housing complexes.  On April 9, 2013, Justice Richard B. Lowe III of the New York Supreme Court finally approved settlement of the action, which totals over $173 million, sets aside $68.75 million in damages, re-regulates the apartments at issue, and sets preferential rents for the units that will save tenants significant monies in the future.  The settlement also enables the tenants to retain an estimated $105 million in rent savings they enjoyed between 2009 and 2012.  The settlement is by many magnitudes the largest tenant settlement in United States history.