Developer and major GOP donor Larry Mizel has reached a $25 million deal to resolve a pension fund’s challenge to the $4.9 billion sale of his real estate empire to Japanese homebuilder Sekisui House Ltd. in 2024.
The settlement would end a lawsuit claiming Mizel and the former CEO of his MDC Holdings Inc., David Mandarich, orchestrated the transaction to funnel tens of millions of dollars to themselves. The $25 million will be distributed to shareholders who held MDC stock at the time of the merger’s closing in April 2024, according to a notice filed late Tuesday with the ...
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