Goldman Sued by Hollywood Managers Over $7 Billion PE Deal (1)

Goldman Sachs Group Inc. was sued by a Hollywood business management firm that claims it was strung along as a mergers and acquisitions client while the bank pursued a much larger $7 billion deal with a private equity firm.

In a suit filed Thursday in New York state court, KSFB Management LLC said it was deceived by Goldman when it was seeking to sell itself in 2022. KSFB says it gave Goldman confidential information that helped the bank arrange Focus Financial Partners’ February 2023 acquisition by Clayton Dubilier & Rice LLC.

KSFB’s claims stem from a complicated series of ...