The former top attorney for Five Hole LLC, which operates merchant capital advance businesses under the name Pearl Capital, dropped his Delaware lawsuit against its chief financial officer and recanted his allegations.
The suit by ex-Five Hole general counsel Steven Berkovich, filed last year in Delaware Chancery Court, accused CFO Oded Segev of cooking the company’s books to justify overpaying executives and stiffing its collections lawyers, led by Berkovich, who had allegedly spun off into a separate legal practice.
Although Berkovitch “purports to have believed” that “the claims were not frivolous” when he made them, he “no longer believes” the ...
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