Ultimate Action v. The November First Partnership CA2/1

BACKGROUND

A. Prior Representation Ultimate Action is a 60 percent owner of South Broadway.

2 November First Partnership (November First) owns the other 40 percent, and manages South Broadway. Scott and Patricia Schwartz indirectly (through their trust) hold a controlling stake in November First. In early 2020, Ultimate Action negotiated with November First to buy out the latter’s 40 percent interest in South Broadway. Fox Rothschild represented South Broadway during the negotiations. In March and April 2020, Ultimate Action requested information and documents regarding deferred maintenance it discovered while investigating the proposed buyout, stating, “investigations of the Property have uncovered damage and deferred maintenance in excess of $2,000,000, and new matters have arisen which have materially diminished the value of the Property and collectability of rents.” Fox Rothschild declined to provide the requested documents, stating, “Your insistence on learning the ongoing details of the management of [South Broadway] . . . is unwarranted . . . . [¶] Please rest assured that [South Broadway] will continue to be appropriately managed. Going forward, we respectfully…