An affiliate of Irish financial software giant Ion Group escalated its legal fight with S3 Partners LLC, suing the market analytics firm in Delaware over concerns about potential self-dealing, including alleged “suspicious payments” to its board chairman.
The lawsuit, made public Monday, cites “growing evidence that the company is being mismanaged” but stops short of formally alleging wrongdoing. Instead, the suit seeks internal files to investigate preliminary fears that S3 may have paid millions “without any apparent business justification” to Bob Sloan, its managing member, while plunging more than $50 million into debt.
The complaint by Fidessa Corp., the Ion ...
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