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Handel On The Law

(04/06) HOTL Hour 3

Handel On The Law

KFI AM 640

News

4.3879 Ratings

🗓️ 6 April 2024

⏱️ 34 minutes

🧾️ Download transcript

Summary

Handel on the Lww, Marginal Legal Advice.

Transcript

Click on a timestamp to play from that location

0:00.0

This is Handel on the Law, marginal legal advice, where I tell you you have absolutely no case.

0:07.6

All right, I've told this story before. I've talked about this, both on the morning show and I think here on Handel on the Law.

0:14.8

And that has to do with a couple of three Silicon Valley billionaires who've decided they're going to build this utopian

0:22.3

city in Solano County up north, sort of Silicon Valley area. And the name of the firm that is

0:31.1

creating this, that was created by these billionaires, they got together and made this

0:36.0

form this firm Flannery Associates.

0:40.0

And they started buying up property.

0:42.2

I mean buying up property, like, what, 18,000 acres or 16,000 acres.

0:49.0

And they're going to establish this entire community.

0:53.8

I mean, schools and hospitals and multifamily dwellings

0:58.6

and homes. I mean, just a big deal. It's going to be a modern sort of planned community.

1:04.7

And so they went ahead and started buying this up. And now, and the prices went through the roof

1:10.8

because the property owners around there are... went ahead and started buying this up. And now, and the prices went through the roof because

1:11.2

the property owners around there said, let's get together and said, let's raise prices.

1:19.2

And the Flannery Associates sued them for violation of federal antitrust law.

1:35.0

And they actually have, in fact, settled with some of them.

1:37.5

We don't know what the settlement is at this point.

1:44.3

Now, keep in mind, Flannery and Associates has already spent $800 million on the land.

1:52.0

And they are suing dozens of landowners for $510 million in damages because they claim, quote,

1:58.0

through endless greed, they work together to jack up sales of their property.

2:01.3

And so here's what happened last week.

2:07.7

Judge Troy Nunley in U.S. Federal District Court in Sacramento, denied an attempt by those landowners that are being sued to deny price fixing and get the case thrown out.

...

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