Vermont’s highest court has reversed a decision in an EB-5 investor lawsuit against the state commerce agency.
The state Supreme Court decision issued Friday allows investors to proceed with claims of negligence, breach of contract, and breach of good faith against the state Agency of Commerce and Community Development for lax oversight of Jay Peak Resort projects.
“We affirm the dismissal of the negligence claims against the individually named defendants,” the justices ruled. “However, we conclude that plaintiffs have stated claims for negligence and negligent misrepresentation against ACCD and that the Vermont Tort Claims Act waives the state’s sovereign immunity with respect to these claims.”
The lawsuit now goes back to the trial court for an airing of the claims.