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Saturday, November 2, 2024

Lawsuit alleges massive bid-rigging scheme in NYC by Turner Construction, Bloomberg

Federal Court
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NEW YORK (Legal Newsline) – Companies including Bloomberg L.P. are accused of a massive bid-rigging scheme to drive up the prices of construction in and around New York City.

In a lawsuit filed July 14 in New York federal court, a drywall subcontractor sued Bloomberg, Turner Construction, Eurotech Construction and Donaldson Acoustics, as well as other individuals.

Nastasi & Associates’ suit claims Turner colluded with the other defendants to manipulate the market for interior construction in the Tristate/New York metropolitan area.

“This scheme cost interior construction consumers hundreds of millions of dollars in inflated interior construction prices and non-participant subcontractors, such as Nastasi & Associates, hundreds of millions of dollars in lost bids,” the suit says.

The scheme ran from 2010-18, the suit says. Turner used its market position to conspire with subcontractors and high-level executives at Bloomberg to coordinate their bidding. Jobs were improperly awarded to the conspirators over more competitive bids from other subcontractors, the suit says.

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