$9,450,000.00 – Christian Yu, et al. v. Gleiberman Properties, Inc., et al. [Tenant Security Deposit Class Action]

Facts and Allegations:

Three former residential tenants filed a class action on behalf of themselves and 30,000 other former tenants against Gleiberman Properties, Inc. (“Gleiberman”) – an owner and operator of over 60 apartment complexes throughout the State of California. Gleiberman would often not send any invoices at all to substantiate the deductions and its security deposit administration policies violated California Civil Code section 1950.5. Further, Gleiberman charged an excessive $125 late fee that was not tied to the cost of the collection of late payment of rent monies.

Gleiberman eventually turned over tens of thousands of pages of tenant files and data concerning tenant move-outs. After three mediations, the case settled for a total value of $9,450,000.00 (cash + debt relief + rent credits). Final approval is still pending.