A lawsuit has been filed that claims several parties, including homeowners associations, a construction company and a community-management company, schemed to take over Las Vegas Valley homeowners associations, causing home values in the subdivisions to drop. The lawsuit alleges that the defendants planned to fraudulently take over HOA boards, file various construction-defect lawsuits and then pay construction contractors to "make superficial repairs that did not address the real underlying defects in the buildings."

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