Recently, a class action lawsuit was filed against the city of New York for deceptive practices, fraudulent inducement, good faith and negligent misrepresentation. Akal Taxi is suing New York City as they claim they were induced to purchase taxi medallions at an inflated price by failing to disclose the declining value of the medallions. After this, the city then, improperly, granted licenses for “black car” bases to non-taxi companies such as Uber and allowed them to pick up street hails that are the exclusive domain of yellow taxi cabs. As a result, taxi medallion owners have suffered tens of millions of dollars in losses.
If you or somebody you know is seeking help surrounding this lawsuit, please contact us immediately on our website, or email us directly at ConsiderTheConsumer@gmail.com.