Investor Claims $290M Loss In Perelman-Led 'Scheme'

By Rose Krebs (October 24, 2019, 9:51 PM EDT) -- Affiliates of Sylebra Capital Partners have filed a lawsuit in Delaware Chancery Court, claiming Scientific Games and its officers, including billionaire businessman Ronald Perelman, engaged in a "scheme" to damage Sylebra's investment by about $290 million and strengthen Perelman's control over the company.

Hedge fund Sylebra Capital Partners Master Fund Ltd. and affiliates asserted in a complaint late Wednesday that Perelman, who is Scientific Games Corp.'s chairman and, together with his company MacAndrews & Forbes Inc., owns roughly 40% of the gaming company's outstanding stock, manipulated gaming industry regulations to "harass Sylebra and seek to harm" its investment.

"The plan was straightforward:...

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