Investment funds run by Egis Capital Partners and ABS Capital Partners sued affiliates of Plymouth Management Co. and Bootstrap Venture Partners in Delaware, claiming they fraudulently overstated the prospects of ClearObject Holdings Corp. before selling it.
The Egis and ABS companies paid around $24 million early last year to buy 80% of the tech company from Plymouth, Bootstrap, an Indiana state development fund, and a company called Cloud 2011 LLC about which little information is available.
The Chancery Court lawsuit, filed Thursday, also targets ClearObject’s former top executives. It accuses them and the company’s ex-owners of providing intentionally outdated financials ...
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