Two members of Blue Wave Boats’ founding family filed suit in Delaware against Horizon Holdings LLC, claiming they were wrongly forced out of the boat building business after bringing the investment firm in to finance its growth.
The lawsuit, docketed Thursday in Delaware Chancery Court, accuses Horizon and its principals of luring brothers Richard and Steven Parks into the deal with lofty pledges about their experience, their hands-off approach, and their devotion to keeping family companies in family hands.
“Induced by Horizon’s representations and personal comments to the family,” the Parks brothers—"third-generation boat builders” with “a passion for the industry"—invested ...
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