UBS Sues H Partners Over $25M Deal In Cumulus Buy

Law360, New York (September 23, 2011, 7:21 PM EDT) -- UBS Securities LLC sued H Partners Management LLC in New York on Friday, accusing the firm of balking at its alleged commitment to buy $25 million in stock as part of UBS' $125 million deal to buy Cumulus Media Inc.

As a result of H Partners' alleged failure to pay the $25 million, UBS became responsible for coming up with the money as part of its agreement to purchase the shares from Cumulus, according to UBS' complaint, which also named H Partners LP and H Partners...
To view the full article, register now.