Springpoint Senior Living, a retirement and assisted living community in Wall Township, is facing a consumer fraud class action alleging it misrepresented the entrance fees patients would receive upon leaving the facility. The facility offers a 90 percent refundable entrance fee option, minus deductions for certain healthcare costs, upon moving out. However, the lawsuit claims Springpoint failed to disclose that the 90 percent refund is based on the entrance fee amount paid by the next person to occupy the unit.
The proposed class action was filed in 2013. The plaintiffs are seeking compensatory and punitive damages, attorney fees, injunctive release and consumer refunds under the state’s Consumer Fraud Act and Continuing Care Retirement Community Regulation and Financial Disclosure Act.
Springpoint petitioned the Supreme Court after a trial court’s denial of summary judgment late in 2022. The trial court held that refund protections were allowed under the state’s consumer fraud laws.
Springpoint did not immediately respond to a request for comment from Law360.
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