Apollo Seeks To Exit Suit Over Discount Club Fraud

Law360, New York (November 2, 2011, 6:09 PM EDT) -- Private equity firm Apollo Global Management LLC on Tuesday asked to be dismissed from a class action alleging it profited from a fraudulent consumer discount club service, arguing its controlling interest in the company that ran the program did not make it liable.

Apollo said in a motion filed in Arizona federal court that equity investments did not put it on the hook for any actions of Trilegiant, which offers a dozen consumer savings cards, or its parent company, Affinion. Apollo would not confirm its reported...
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