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As of Friday morning, 159 people remain unaccounted for as rescue crews work at the scene. The suit says the condo association failed to "secure and safeguard" the owners' lives and property.
The first lawsuit has been filed in connection with the deadly collapse this week at a South Florida condominium.
Although it may be a contributing factor, FIU professor Shimon Wdowinski stressed that the sinking alone would likely not cause the condominium to collapse.
Rescue crews picked through tons of rubble on Thursday looking for nearly 100 missing people