Judge Says Execs Exempt From Tortious Interference Claims

Law360, New York (March 6, 2012, 8:15 PM EST) -- A Delaware judge said Tuesday that company managers cannot be held directly liable for tortious interference of a contract, in dismissing claims against lenders, directors and shareholders in a suit alleging HIG Capital LLC fraudulently sold a foreclosed asset to one of its affiliates.

The suit stems from the sale of ATM Acquisition Corp. by senior lender HIG for $41 million to its affiliate Pendum Acquisition Corp. Edgewater Growth Capital Partners LP and Edgewater Private Equity Fund III LP, which owned a sizable portion of ATM,...
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