A private equity court fight got so heated that friends on opposite sides of the case allegedly fell out when one retaliated by stealing the other’s Ferrari.
New details emerged Monday about a lawsuit against New York’s Kinderhook Industries LLC by the founder of BlueDriver, an auto tech business it acquired. The suit says Kinderhook tolerated gross mismanagement, turned a blind eye to rampant self-dealing, and shelved plans for a sale that would have revealed a scheme to hype the value of its portfolio.
Kinderhook is jacking up the value of Repairify Inc., the portfolio company it merged BlueDriver into, ...
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