Raymond James’ lawsuit against its landlord recommended for dismissal
Raymond James’ lawsuit against its current landlord, the owners of 50 N. Front Street, is teetering on the edge of dismissal, according to federal court records.
On Feb. 20, U.S. Magistrate Tu Pham wrote in a 29-page recommendation that Raymond James’ case against its landlord, which is conveniently named 50 N. Front, LLC, be dismissed.
“But the injuries Raymond James has allegedly suffered as a result of 50 North’s supposedly negligent elevator maintenance are simply not the kind of injuries negligence law is concerned with,” Pham wrote.
Typically, when a case is referred to a magistrate judge that judge recommends what the district judge should do about the case. As of Thursday evening, U.S. District Judge John Fowlkes had not dismissed the case.
Raymond James sued over conditions at the Downtown office building that bears its name. It then used those conditions as a reason for its move to East Memphis. The building’s owner, 50 N. Front LLC, maintains Raymond James used its conditions to break its lease. In a news release Thursday, the company said that once more.
“I have been certain that the cause of Raymond James’ highly publicized departure from this beautiful tower has nothing to do with alleged deterioration and everything to do with Raymond James’ attempt to avoid paying millions of dollars as the fee for breaking the contractual agreements it negotiated with my predecessor,” said 50 North owner Jacob Sofer, in a statement. “This ruse is all the more offensive because Raymond James received $8.8 million in free rent.”
He continued to say the tower, a piece of office space in the Downtown core, is ready and open for business.
Samuel Hardiman covers Memphis city government and politics for The Commercial Appeal. He welcomes tips from the public. He can be reached at samuel.hardiman@commercialappeal.com.