SALEM, Ore. (AP) – An Oregon timber company reportedly plans to sue its home state for $3.3 million after its plans to buy the Elliott State Forest recently fell through.
The Coos Bay World reports attorneys for Lone Rock Timber Management Company of Roseburg alerted the Oregon State Lands Department of their plans last week in an email.
Lone Rock was the sole bidder for the 82,500-acre forest, which was on sale for $220 million as a way to meet its financial obligation to produce funds for public education. The state land board reversed its decision to sell it earlier this month.
Lone Rock’s attorneys say the company has suffered millions of dollars in out-of-pocket losses and lost business opportunity, and will seek tort claims for misrepresentation and negligence.