Three more taxi-medallion buyers sue the de Blasio administration

Crain's New York reports:

Another day, another taxi lawsuit.

This time it's buyers of medallions to operate handicapped-accessible taxis who say they were ripped off by the city.

A suit filed Friday in Queens charges that auction prices of three medallions sold in February 2014 were inflated because the city hid information indicating medallion values were already falling, and then took actions that further depleted their worth.

The plaintiffs charge that immediately after the sale, the city began granting licenses to black-car bases to Uber and other companies "that plainly did not qualify for those licenses under existing New York law and Taxi and Limousine Commission regulations." The city's Law Department requested and received from Crain's a copy of the complaint but declined to comment because it had yet to be formally served.

The taxi cartel update.