Mogul Donald Trump has filled a $1 billion lawsuit against a company who undersold a plot of New York City land he has shares in.

Trump accused the managing director of New World Development, Henry Cheng, and other Hong Kong investors for selling the Manhattan property for $1.8 billion, but keeping quiet about a $3 billion offer they received from another bidder last month.

Trump complains, "There's something seriously wrong here. (...) This is one of the finest pieces of property in the world. And this is the hottest real estate market in history. They ought to be ashamed of themselves."

But a New World Development spokesman insists the company was not involved in the sale of the land, adding, "We do not have any information to provide."