Luxury Brand Partners LLC filed suit in Delaware against a Bookend Capital Partners LLC affiliate and its CEO, claiming he has used the investment firm’s 10% stake and his board seat to disrupt the beauty company through “manic” and “erratic” attempts to reshape its operations.
The lawsuit, filed Tuesday in Delaware Chancery Court, accuses Bookend chief Alexander S. Panos—who sits on LBP’s board—of lobbing “hostile” and baseless grievances at other company leaders over “well settled” issues in an apparent attempt to withdraw from the investment over the pandemic.
“LBP attempted to work productively by responding to his allegations in good ...
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