Audax Countersues H.I.G. Over $915 Million Deal Fraud Claims

Audax Group LP fired back in court at H.I.G. Capital LLC, countersuing its private equity rival about a week after H.I.G. brought fraud claims over a $915 million telecom-software deal.

An Audax affiliate filed its lawsuit under seal Tuesday, indicating in a public filing that its claims for breach of contract and tortious interference target H.I.G.'s alleged “destruction of plaintiff’s $100 million investment in Mobileum Inc.” and “bad faith efforts to avoid responsibility” for mismanaging the venture.

Further details about the countersuit weren’t publicly available Wednesday thanks to a Delaware Chancery Court rule letting complaints remain confidential for about ...