Bloomberg Law
Dec. 17, 2020, 11:20 PMUpdated: Dec. 18, 2020, 3:05 PM

Perelman Sheds Hedge Fund’s Scientific Games Appeal (Corrected)

Mike Leonard
Mike Leonard
Legal Reporter

Scientific Games Corp.'s second-largest shareholder, a Sylebra Capital hedge fund, dropped its bid to have Delaware’s top court revive claims that billionaire Ron Perelman tried to force it out of the gaming company using phony concerns over its former stake in a payment processor tied to Russia’s war in Ukraine.

Sylebra Capital Partners Master Fund Ltd. has dismissed its appeal of a ruling by Vice Chancellor Joseph R. Slights III in Perelman’s favor, according to filings in Delaware Chancery Court and the state Supreme Court. Slights held Oct. 9 that the dispute belongs in Nevada, where Scientific Games is headquartered, ...