FireStryker, Acell, Investors Launch Securities Battle

Law360, Dallas (July 8, 2013, 8:32 PM EDT) -- Investors in FireStryker Ltd. and Acell Investors Ltd. launched a $22.8 million securities fraud suit against the companies in Texas state court Wednesday, which the businesses countered hours later in a suit that claims the shareholders campaigned to "temporarily destroy" the companies' value to force a takeover.

The investor group, led by Italian Investors LLC and including prominent Dallas philanthropist Ted Skokos, claim they were duped into sinking money into FireStryker, founded in 2011 to acquire E.S.P. SRL, an Italian manufacturer of compact fire extinguishers, by...
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