Bosa Development has built 9 residential condominium towers in California, 7 of the buildings are in downtown San Diego. In August 2009, lawyers from the Firm filed a class action lawsuit alleging that Bosa (and its sales agent RE/MAX) sold the condominiums with a square footage “bait-and-switch.” When selling its condominiums Bosa promised a specified square footage but actually built and sold units that were up to 28% smaller.
The square footage promised by Bosa was inflated because Bosa’s measurements included space that the buyer does not own and cannot occupy. The lawsuit alleges that Bosa used the inflated square footages to increase sales and sales prices.
You can find the full details on the website for Blood Hurst & O’Reardon including links to documents –>> click here
To read the proposed settlement agreement, click here. To see unit square footage differentials, scroll down to exhibit B in the settlement agreement.
To see a sample class notice, click here.
On October 10, 2014, the court approved the settlement for $16.25 million. Once the Court’s ruling becomes final, settlement checks will be sent, probably in the first quarter of 2015.
Get Email Update
Newsletter subsciptionSubscribe on our newletter to get the latest listings, resources, updates and post right to your inbox