Alarm Funding Co. Sues Siemens Venture Over Scuttled IPO

Law360, New York (March 22, 2012, 5:08 PM EDT) -- A Siemens Financial Services Inc. joint venture with financial services firm First Capital on Wednesday was accused of violating an agreement by canceling the multimillion-dollar initial public offering of a security alarm services funding company over an $85 million loan the company had not yet fully repaid to Siemens.

In a complaint filed in New York state court, Whitecap (US) Fund I LP accused Siemens First Capital Commercial Finance LLC and its directors of "intentionally destroying" three related companies, Alarm Funding LLC, CastleRock Security Inc. and...
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