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...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.