Real Estate Owners in New Jersey Who Had A Tax Sale Certificate Issued With Respect to their Property File Class Action Lawsuit Complaint Against Various Tax Sale Certificate Auction Purchasers.
A class action lawsuit has reportedly been filed against various tax sale certificate purchasers in New Jersey who purchased tax sale certificates at auction (collectively “Defendants”) in the United States District Court for the District of New Jersey (styled MSC, LLC v. William A. Collins, et al.,) alleging, among other things, that nearly every property owner in the State of New Jersey is required to pay certain property taxes and other municipal charges (such as sewer or water charges) to the municipality in which such property is located, that not all property owners can and/or do pay their local property taxes, that at least once per year, each of New Jersey’s 566 municipalities is required to hold an auction at which the municipality auctions each delinquent tax obligation it is owed by a property owner in the form of a “tax sale certificate” or “TSC,” but that defendants entered into a combination and/or conspiracy to rig the tax sale certificate auctions to ensure that the tax sale certificates they purchased at the auctions carried the maximum 18% interest rate, according to the New Jersey Tax Sale Certificate Bid Rigging class action lawsuit complaint.
Plaintiff brings the New Jersey Tax Sale Certificate Bid Rigging lawsuit on behalf of itself and all others similarly situated, as a class action pursuant to Rule 23 of the Federal Rules of Civil Procedure on behalf of the following class:
All persons who owned real property in the State of New Jersey who had a Tax Sale Certificate issued with respect to their property that was purchased by a defendant during the Class Period.
The New Jersey Tax Sale Certificate Bid Rigging class action lawsuit complaint reportedly asserts claims for alleged violation of the Sherman Act, 15 USC section 1.
The New Jersey Tax Sale Certificate Bid Rigging class action lawsuit complaint reportedly seeks, among other things, treble damages, injunctive relief, pre- and post- judgment interest and attorneys’ fees and costs.
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