Ex-Partner Sues PE Firm Over Restoration Hardware IPO

Law360, New York (January 2, 2013, 5:26 PM EST) -- Private equity firm Tower Three Partners LLC was sued on Monday by a former partner who alleges he is owed a piece of the $100 million profit the firm recently reaped in an initial public offering of stock for Restoration Hardware Holdings Inc.

Craig Sakin, who was a managing partner of the Tower Three fund when it first made its investment in the home furnishings and fixture company in 2008, alleges that a contract with Tower Three guarantees him a share of profits for any investment...
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