The opportunity was tantalizing: invest alongside the mighty Apollo Global Management LLC.
But what looked like a sure thing turned out to be a big loser -- and accusations are flying.
The dust-up involves CEVA Logistics AG, a Swiss company that Apollo acquired more than a decade ago.
Former executives today say Apollo double-crossed them. In a $34 million class-action lawsuit against Apollo and CEVA, they say the buyout firm looked out for its own interest and used a deft stroke of financial engineering that ended up wiping out their equity. Apollo denies wrongdoing.
“We believe the claims against Apollo ...