Fox Paine Says Former Exec Gave Fund Stake To Rival

Law360, New York (March 20, 2012, 8:00 PM EDT) -- Private equity firm Fox Paine Capital International GP LP sued a former executive in Texas court Tuesday, saying he violated partnership agreements by surreptitiously transferring his interest in a firm fund to a former Fox Paine partner operating a competing business.

Fox Paine partners Saul A. Fox and W. Dexter Paine III split in a 2007 court settlement giving Fox control of Fox Paine and dividing the firm's funds between the two, according to the complaint. Managing director Troy Thacker left for Paine's new firm Paine...
To view the full article, register now.