Private equity firm pursues fraud claims related to sale of portfolio company
Client(s) Private equity firm
Jones Day is serving as lead counsel to a private equity firm and its portfolio company in significant litigation asserting fraud and breaches of contractual representations and warranties in connection with the acquisition of the portfolio company. During purchase negotiations, representatives of the defendants made material misrepresentations and omissions to induce our client to purchase the company, including false statements and omissions concerning the state of the target company's relationships with its key customers, manufacturing capacity and ability to satisfy ongoing commitments, and earnings. Our clients seek recovery for securities fraud, common-law fraud and fraudulent inducement, and breach of contract, among other claims.