New lawsuit seeks to block Empire State Building IPO

A group of investors is suing to block a proposed initial public offering by the owner of the 102-storey Empire State Building in at least the second lawsuit of its kind, on grounds that it unfairly undervalues ...

NEW YORK (Reuters) - A group of investors in the

NEW YORK (Reuters) - The controller of the Empire State Building has offered investors the opportunity to sell so

The owner of the Empire State Building filed for an initial public offering on Monday, allowing shareholders to own a piece of the 102-story skyscraper and 11 other office buildings in New York and Connecticut.

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A plan to roll the Empire State Building into a real estate investment trust is a whisker away from obtaining the necessary investor approval for a stock offering allowing the public to own a piece of the iconic skyscraper, according to a regulatory filing on Thursday. Investors holding 99.3 percent of the Empire State Building units needed to approve the plan for an initial public offering have voted for it, according to the filing with the U.S. Securities and Exchange Commission.