Apax Sues Endo Over $1.2B Qualitest Deal

Law360, New York (July 30, 2012, 8:38 PM EDT) -- Endo Pharmaceuticals was hit Monday with a suit from Apax Partners, which claims Endo is requesting coverage for "phantom" third-party claims under a 2010 $1.2 billion agreement to buy generic drug company Qualitest Pharmaceuticals from the private equity group.

In a suit filed in New York state court, Apax Quartz (Cayman) LP, which agreed in the deal to indemnify losses and claims incurred prior to March 31, 2012, said it does not have to indemnify the two potential last-minute claims submitted by Endo on March 30....
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