Charlotte Observer Quotes Adam Doerr on Approval of Pittenger Land Investments SettlementPDF
Adam Doerr, an attorney with Robinson Bradshaw, was quoted in The Charlotte Observer about the resolution of potential legal claims involving land deals arranged by Rep. Robert Pittenger’s former real estate company, Pittenger Land Investments.
Investors in 51 of 52 land deals approved the settlement, in which PLI will turn over control of the investments to Charlotte-based real estate firm South Street Partners. PLI is to receive $6 million but will give up an investment stake that could be worth as much as $30 million. The deal is expected to close by May 31.
“This resolution is the best possible outcome for investors under the circumstances, and we’re ready to go forward,” Doerr said.
The full article can be found here.