Deposed EF Hutton CEO Sues Firm, Partner Over Alleged ‘Coup’ (1)

The CEO who led the revival of the storied EF Hutton name as a leading SPAC investment bank hit back at a lawsuit accusing him of falsifying expenses, claiming his former business partner orchestrated a “coup” to illegally oust him.

Joseph Rallo filed his own suit Tuesday in Delaware against EF Hutton and the partner, David Boral, saying the firm’s claims against him were “entirely false” and “motivated by personal animosity and greed.”

Rallo’s suit comes about a week after EF Hutton filed its own suit in New York, disclosing that the chief executive officer was asked to go ...