Private Equity Firm Targeted by Voice Comm ‘Sham Offering,’ It Says

Tygon Peak Capital Management LLC sued Voice Comm LLC and its ownership group in Delaware, saying they’re planning a “sham” stock offering to dilute Tygon’s stake after it found and sponsored the deal that put them in charge.

In addition to Voice Comm, a mobile phone accessories wholesaler, the Chancery Court lawsuit targets affiliates of private equity firms Rockwave Capital LLC and Seven Shores LLC. It also names Rockwave president Daniel Goldberg and Seven Shores manager Andrew Caplan as defendants.

The suit accuses them of wrongly withholding management fees Tygon is owed under the agreements that handed control of Voice ...