Class action status is being sought in a lawsuit filed against United Park City Mines (UPK) by shareholder Pennsylvania Avenue Partners. The suit was filed to prevent UPK from selling their assets to real estate development firm Capital Growth Partners. Pennsylvania Avenue Partners has filed the suit to ensure that the highest possible price will be received for shareholders in the transaction. The suit further alleges that UPK's directors are not sharing the benefits of the transaction equally with shareholders, claiming that they are, "self-dealing and obtained for themselves personal benefits, including personal financial benefits not shared equally." The suit also claims that the directors have knowledge of the company's financial position which has not been shared with stockholders.
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