The state news outlet Boston Globe reported that FBT Everett Realty took legal actions against its former law firm Davis, Malm & D’Agostine, accusing it of inadequate legal representation. In its suit, FBT Everett Realty claims that Davis, Malm & D’Agostine was supposed to protect FBT’s interests in court, but the law firm’s poor legal representation led to the current complicated situation.
FBT’s move comes only a month after the company filed a civil suit against Massachusetts Gaming Commission, accusing the commission of “tortious interference” in FBT’s land sale deal with Wynn Resorts.
FBT Everett Realty seems to continue with its legal battle in an attempt to maximize the price of its already sold 35 acres of land. Some time ago, casino mogul Steve Wynn bought a plot of land from FBT, unveiling plans to construct a casino in Everett. The deal between the two parties was engulfed in controversy over claims that the convicted felon Charles Lightbody was still involved in the ownership of FBT.
Under Massachusetts legal framework, convicted felons are prohibited from benefiting from casino operations. Hence, Mr. Wynn could not implement his casino plan as Lightbody would be among the beneficiaries of the money transaction. The Massachusetts Gaming Commission warned Mr. Wynn about Lightbody’s possible ownership, which would create certain legal problems.
Being aware of that information, the casino tycoon decided to significantly lower his bid on the earmarked plot of land, dropping it from the initial $75 million to just $35 million. This is almost three times less than the initially agreed-upon price for FBT’s polluted site. Here, it is interesting to mention that FBT purchased that particular piece of land for $8 million in 2009. Nevertheless, FBT agreed to take the lower price and sell the plot of land to Mr. Wynn.
FBT Goes on War to Protect Its Interests
However, the realty company decided to protect its reputation and interests. On 15th November, FBT filed a civil suit against the commission in Suffolk Superior Court, claiming that its interference is unrighteous and it hurt the company’s deal with Mr. Wynn. In response to the legal attacks, the gaming commission’s legal representatives explained that FBT’s accusations are not supported by facts, which makes them invalid.
In 2016, a trial against Lightbody and his 2 alleged accomplices Dustin DeNunzio and Anthony Gattineri entered the court. According to the allegations, the three respondents conspired in order to hide Lightbody’s criminal past and transfer Lightbody’s ownership interest in FBT. Eventually, the three men were found innocent, which means that the realty company claims right to seek a financial compensation over its $40 million in losses from Wynn casino land sale deal.