McKinsey Sued by Jay Alix Over Competition for Bankruptcy Advice

Consulting giant McKinsey & Co. was sued for racketeering by a competitor, Jay Alix, who alleged the consulting firm engaged in a “criminal enterprise” in an attempt to dominate the lucrative market for advising bankrupt companies.

From 2001 to the present, McKinsey “knowingly and intentionally submitted false and materially misleading declarations under oath in the bankruptcy proceedings” to conceal what would have been disqualifying conflicts of interest, Alix said in the complaint, filed May 10 in the U.S. District Court for the Southern District of New York. Alix is the chairman and co-managing partner of AlixPartners LLP.

Representatives for McKinsey ...