Atticus Franchise Group ME LLC affiliates must face allegations that the Atlanta-based private equity group took advantage of a small contract mistake to overcharge a couple that owns Massage Envy franchises for its management services, a Delaware judge ruled.
Vice Chancellor Joseph R. Slights III let Novarus Capital Holdings LLC—an investment vehicle for the couple—move forward in Delaware Chancery Court with claims that Atticus and its affiliates breached their contracts in bad faith, though he dismissed Atticus principal Michael Drum from the case.
It’s plausible, “based on the company’s intentional use of the wrong metric to calculate Atticus’ compensation, resulting ...
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