Recurrent Capital Bilked Out Of Share In $40M Deal: Suit

Law360, New York (December 19, 2011, 7:58 PM EST) -- Bridge financing firm Recurrent Capital LLC sued defense technology acquisition company ISR Systems and Sensors Corp. and thermal imaging device maker EMX Group Inc. on Monday, claiming they conspired to cheat Recurrent Capital out of its share of a $40 million acquisition.

In its suit in New York state court, Recurrent Capital says it sunk more than $1 million into a plan to purchase three companies — EMX, Wave Technologies Inc. and SensArray Infrared Corp. — with ISR with the expectation that Recurrent Capital and its...
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