Apollo Sued for Board Voting Agreement With Black, Harris, Rowan

An investor is suing Apollo Global Management Inc. over a pact allegedly pledging the asset manager’s support for any board nominees proposed by billionaire founders Leon Black, Josh Harris, and Marc Rowan.

The lawsuit, filed Thursday, targets a shareholder agreement that Apollo reached with the co-founders in 2022, in connection with its conversion from a publicly traded partnership to a traditional corporate structure. Several sections are indistinguishable from provisions struck down in a landmark ruling last month in a case involving investment bank Moelis & Co., the suit says.

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