Key facts
- HANFRA's bylaws require 55 members to vote in favor of a merger.
- Only 43 members voted in favor of the proposed merger with LIBOR.
- Michael Coughlin allegedly retained corporate records and member data after his alleged firing.
A legal battle is unfolding in New York over a proposed merger between the Hamptons and North Fork Realtors Association (HANFRA) and the Long Island Board of Realtors (LIBOR). Tahir Baig, claiming to lead HANFRA, filed a lawsuit alleging that the merger was improperly negotiated and voted upon without proper authorization. The suit disputes the validity of a membership vote that allegedly fell short of the required threshold, leading to claims of wrongful approval and subsequent firings and suspensions within HANFRA. Defendants, including Michael Coughlin and Horace Barrow, deny the allegations and are seeking to dismiss the suit, questioning Baig's authority to file it. LIBOR has also pushed back, stating that since the merger did not occur, the claims against them are unfounded.