DRIP COFFEE ACCUSES KIMCO OF FRAUDULENTLY INDUCING FEMALE OWNED BUSINESSES IN NEW LAWSUIT

The Suit Alleges Concealed Demolition Plans and Wrongful Evictions to Construct a Target

FORT LAUDERDALE, Fla., May 18, 2026 /PRNewswire/ -- Drip Coffee, an emerging coffee brand, filed suit in the Circuit Court of the Seventeenth Judicial Circuit in Broward County, Florida, accusing Kimco Realty Corporation (NYSE: KIM), a New York-based developer of open-air shopping centers, of systemic fraudulent business practices in which the company enters into multi-year leases with tenants while simultaneously planning to evict those same tenants at a later date to make room for larger retailers.

The lawsuit claims that Drip Coffee was used as a "pawn" to provide short-term rent to Kimco and its subsidiaries while they failed to disclose that they intended to begin a massive redevelopment and demolition project affecting more than 100,000 square feet of the shopping center, including the demolition of an LA Fitness and a movie theater, to accommodate a highly lucrative deal with Target. Drip Coffee alleges that Kimco committed fraud by soliciting leases they knew they could not fulfill.

"Kimco business practices have the company enter into agreements the company has no intention of keeping." said Taylor Schear, Drip Coffee, President. "Kimco has abandoned the safety of their tenants and patrons in favor of profits. Their practices are driven by greed despite the businesses and jobs destroyed, and the loss of the revenue and investments for the businesses that enter into contracts with Kimco in good faith."

Drip's lawsuit was filed after attempts to resolve the matter with Kimco failed.

About Drip Coffee

Drip Coffee is an emerging coffee brand created to invigorate the industry with fun, flavorful drinks, including the Honey Bear Latte, Sticky Situation and Burnt Ritual.

SOURCE Drip Coffee