Spotlight: ARV Seeks to Block Sale of Nursing Home Firm

Costa Mesa-based ARV Assisted Living Inc. said it has filed suit seeking to stop the sale of another nursing home company, Atria Communities Inc., to Lazard Freres & Co., which owns a stake in ARV. Lazard agreed to buy Atria last month through its Kapson Senior Quarters unit for about $750 million. In the Orange County Superior Court suit, ARV said Lazard violated contractual agreements giving ARV the first right to buy, lease or manage any acquisitions Kapson proposes. Lazard said the suit is without merit.