Erwin v. Resources High Equity L.P.

The Mills Law Firm served as co-lead counsel in this nationwide class action maintained on behalf of approximately 27,000 limited partners in three nationwide real estate limited partnerships. The Mills Law Firm and its co-counsel blocked an unfavorable, self-dealing settlement proposed by the General Partner during 1995, and then negotiated a new settlement, approved in May 1999, which obligated the General Partner to purchase $10 million of partnership units from the limited partners at a price supported by appraisals, to convert all three partnerships into REITS, and to reduce management expenses fees by $900,000 during the following year, and approximately $800,000 each year thereafter for up to 10 years. Plaintiffs believe that the value of the new settlement together with the benefit of blocking the earlier adverse settlement, exceeded $15 million.