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Levine Leichtman Unit Drops LNT Noteholder Loss Suit

Law360 (April 25, 2011, 5:45 PM EDT) -- A Levine Leichtman Capital Partners Inc. unit on Monday dropped its New Jersey suit alleging shoddy management by home furnishings retailer Linens 'N Things pushed the company into bankruptcy and inflicted hefty losses on noteholders.

U.S. District Judge Jose L. Linares signed off on a stipulation to dismiss the suit, which Levine Leichtman Capital Partners Deep Value Fund LP launched in March 2009, accusing the leadership and private equity backers of Linens 'N Things of making negligent representations about the retailer's financial condition and prospects from...
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