Michael D.D. White, in his Noticing New York blog, thinks it might, citing "craftily negative" language in the offering statement:
OK, that language says that it has āNOTā been āassumed that the New York Islanders would relocate to the Barclays Centerā but doesnāt it by any reasonable standard imply that, with luck, there is a legitimate possibility Islanders or another professional hockey team could decide to relocate to the arena?
...As such, if the bonds for the arena one day default, as they could, will bond holders be able to sue on the basis that this statement misleadingly misrepresented the arenaās potential uses and revenue sources and therefore its value? If not, the non-positive statement at least says something negative about Forest City Ratnerās business ethics in its willingness to convey misimpressions with craftily constructed non-promises.
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