EPR Properties (NYSE:EPR) today announced that the United States
District Court for the Southern District of New York has dismissed a
$1.5 billion antitrust suit against EPR Properties, EPT Concord, LLC,
and EPT Concord II, LLC (collectively, “EPR”), Empire Resorts, Inc. and
Monticello Raceway Management, Inc. (collectively “Empire”), and Kien
Huat Realty III Limited and Genting New York LLC (collectively,
“Genting”).
EPR and all other defendants moved to dismiss the amended complaint on a
number of grounds, including Plaintiffs’ failure to plead antitrust
injury, failure to plead appropriately tailored product and geographic
markets, and failure to plead monopoly power or to allege facts showing
that defendants engaged in a conspiracy to monopolize.
On September 18, 2013, in a decision filed under seal, the U. S.
District Court dismissed Plaintiffs’ entire amended complaint.
Specifically, the Court dismissed Plaintiffs’ antitrust claims against
all defendants with prejudice, meaning that they are dismissed on the
merits subject to Plaintiffs’ right to appeal, and the Court dismissed
Plaintiffs’ state law claims without prejudice, meaning that they could
be pursued further in a state court.
David Brain, President and CEO of EPR Properties commented, “We are
pleased with the Court’s decision to grant our motion to dismiss this
complaint. It has always been our position that the claim was without
merit and we are gratified that the Court has agreed with our argument. ”
About EPR Properties
EPR Properties is a specialty real estate investment trust (REIT) that
invests in properties in select market segments which require unique
industry knowledge, while offering the potential for stable and
attractive returns. Our total investments exceed $3.2 billion and our
primary investment segments are Entertainment, Recreation and Education.
We adhere to rigorous underwriting and investing criteria centered on
key industry and property level cash flow standards. We believe our
focused niche approach provides a competitive advantage, and the
potential for higher growth and better yields. Further information is
available at www.eprkc.com.
Copyright Business Wire 2013