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Updated: 08/14/2013 7:59 AM
Created: 08/13/2013 8:10 PM KSTP.com | Print |  Email
By: Cassie Hart

Stadium Authority Hires Lawyer to Investigate Zygi Wilf

The Minnesota Sports Facilities Authority announced Tuesday it has retained an attorney to review a New Jersey litigation case that went against Zygi Wilf and his family.

The Authority made this decision to look at the potential impact on the Wilf’s financial contribution to the Minnesota Vikings' new stadium.

Last week a New Jersey judge ruled the Wilfs violated state racketeering laws and used fraudulent bookkeeping to keep two other business partners from getting their fair share of revenue. This all happened more than two decades ago.
   
The judge has not issued damages, but the plaintiffs are seeking $51 million.

Now the Authority has hired Peter Carter, the co-chair of the Securities Litigation and Enforcement Practice of Dorsey and Whitney. He will head a group that will conduct a due diligence review.
     
Carter is a senior litigator who has done this type of work for a number of Fortune 250 Companies.
     
The Authority says this group will perform due diligence on the New Jersey litigation, review other Wilf related litigation, perform extensive background checks, and review the NFL owner application due diligence.

Vikings spokesperson Lester Bagley said, "The Vikings will cooperate fully on the Stadium Authority's due diligence request as we have throughout the stadium project. We are asking the Stadium Authority to not slow down the stadium project while they continue their research. We have tight timelines and delays will only increase costs for everyone."

 


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