Magnolia Group, LLC of Illinois is suing an investment company which owned the old Bay Tech site and the Realtors involved in the sale of the property now owned by the Bay-Waveland School District.

Magnolia Group’s attorney Ben Galloway filed suit Aug. 6 in District Court. They are asking for damages in the amount of $995,000 and punitive damages of $5 million.

Magnolia Group’s lawsuit claims Mary Bunch, an agent of O’Dwyer Realty, worked in the best interest of LNG Investments, LLC owners Lloyd Nicaud and Gerald Rigby rather than Magnolia Group because she is the mother of Nicaud. Magnolia Group claims in the suit it was not aware of the family relationship.

The suit says that Magnolia Group sold the property to LNG for $325,000 and two months later LNG sold it to the school district for $580,000.

Case 1:13-cv-00317-LG-RHW