West Lakeside LLC Vindicated in Natomas Unified School District Lawsuit

This press release is issued by Louis Gonzalez of Weintraub Tobin, on behalf of West Lakeside LLC.

Sacramento, Calif.- West Lakeside, LLC and its manager, AKT Investments, Inc., are pleased to announce that the litigation brought against them by the Natomas Unified School District has been resolved by the District’s payment of $550,000.00 to West Lakeside, LLC. West Lakeside, LLC is represented by Louis Gonzalez, a shareholder at Weintraub Tobin. The lawsuit stems from the District’s purchase of real estate that occurred at the height of the real estate market. Shortly thereafter, real estate values dropped and the District sought to recover from those involved in the transaction. Although the District’s purchase transaction was subject to public scrutiny in the media before the District elected to proceed with the transaction, the District nevertheless sued West Lakeside, LLC, the seller of the property.

Since 2006, the District’s purchase of the property from West Lakeside, LLC has been scrutinized – first by the press, then the District and its constituents, and for the past 7 years by the District’s legal team. After reviewing thousands of pages of documents, days of depositions, and legal proceedings, it was ultimately established that West Lakeside, LLC, as it maintained all along, did nothing wrong.

In order to allow the District to put this matter behind it and to move on, West Lakeside, LLC has agreed to compromise the attorney’s fees it is entitled to recover under the purchase agreement for its successful defense of the action. West Lakeside, LLC has agreed to accept $550,000.00 to be dismissed from the District’s case and to drop it cross-complaint against the District.