FREIT awarded $3.42M in attorney fees; appeals $15M liquidated damages ruling

FIRST REAL ESTATE INVESTMENT TRUST OF NEW JERSEY, INC.

Court awarded FREIT $3,420,422.88 in attorneys' fees on Dec 8, 2022.
Earlier Feb 4, 2022 order found plaintiff breached contract but invalidated $15M liquidated damages clause, ordering escrow return.
FREIT filed a Notice of Appeal on Dec 8, 2022, challenging the liquidated damages ruling.
Litigation stems from a failed purchase agreement for six properties with Sinatra Properties.

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