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MAA 'Vigorously' Defends Against Texas Lawsuits That Could Cost It Millions

The lawsuits present a potential maximum aggregate exposure of $63 million in damages for MAA, the public REIT reported.

Two Texas lawsuits regarding rent late-fee practices could have a Memphis-based public company paying millions. MAA, a real estate investment trust (REIT) that specializes in multifamily developments, is the focus of two Class Actions; together, the lawsuits present a potential maximum aggregate exposure of $63 million in damages for MAA, the company reported. Cleven Class Action and Brown Class Action allege MAA violated Section 92.019 of the Texas Property Code, which states, in part, that a...

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TAGS: Multifamily
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