Brokerage Firm Drops Lawsuit Over Shortage of NYC Tax Judges

Gresham Investment Management LLC has backed away from its federal lawsuit arguing the lack of administrative law judges on the New York City Tax Appeals Tribunal has created a backlog.

The firm told the US District Court for the Southern District of New York in a notice filed Tuesday that it was voluntarily dismissing the case, but reserved the right to refile. Gresham’s complaint filed last month against city Finance Commissioner Preston Niblack asked the federal court to step in because the the city tax tribunal had failed “to provide a functioning adjudicative forum.”

The complaint came as New York ...