Cantor Fitzgerald CEO Howard Lutnick filed a $36 million lawsuit against several municipal boards in the Hamptons over a refusal to allow him to build a large basketball court on his property in Bridgehampton. Lutnick said the terms of his $15 million purchase of the property allowed him to build for “compatible recreational uses.” However, the boards rejected the proposal was not compatible with the agriculturally protected area.
Federal Judge Arthur Spatt agreed with the board and didn’t think the refusal was “conscience-shocking” and “arbitrary” as described by Lutnick’s defense. Lutnick’s case was especially controversial, because he actually named several board members, and some perceived this move as an implicit threat to the individuals.
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“The Court declines to award the plaintiff a proverbial second bite at the apple, ” said Judge Spatt.
But Lutnick may has another spat, and get ready for the sequel. He is currently involved in an $80 million suit against several Southampton boards for ordering him to remove his baseball, hedge and jungle gym if he wants to get that barn he’s been crying for.
