MediConnect Exec Says Partner Cheated Him Out Of $64M

Law360, Los Angeles (October 09, 2013, 9:19 PM ET) -- A health care service provider founder sued his former business partner in Utah federal court Wednesday for allegedly cheating him out of $64 million by buying out his shares before selling the company for almost $350 million to Verisk Analytics Inc.

The lawsuit raises allegations that Amy Anderson, who co-founded medical record analysis company MediConnect Global Inc. alongside plaintiff Naveen Trehan, negotiated a buyout of Trehan’s shares for nearly $9.2 million while concealing Verisk’s interest in acquiring the company.

“A material issue raised in these negotiations...
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Case Information

Case Title

Trehan v. MediConnect Global et al

Case Number

2:13-cv-00921

Court

Utah

Nature of Suit

Securities/Commodities

Judge

Bruce S. Jenkins

Date Filed

October 9, 2013

Sections

Companies Mentioned