LatAm Logistics Founder Sues Over Loan-Related Stock Foreclosure

Warehouse company LatAm Logistics Properties SA improperly foreclosed on a founder’s shares when it went public, he said in a lawsuit.

Immediately after the merger with a special purpose acquisition company was completed in March 2024, LLP and its new parent company, Logistic Properties of the Americas, “issued false and misleading statements claiming LLP had initiated formal foreclosure proceedings” against Michael Fangman Jr.'s investment entity, according to the suit. Fangman and his company, LatAm Logistic Investments LLC, filed their complaint Wednesday in the US District Court for the Southern District of Florida.

The purported foreclosure related to loans made “to ...