Ex-ProfitPoint Exec Hits NewSpring With Defamation Suit

Law360, New York (July 31, 2012, 6:15 PM EDT) -- The former head of startup ProfitPoint Inc. filed a defamation suit in Pennsylvania state court Monday alleging private equity firm NewSpring Capital forced his ouster from ProfitPoint and engaged in a smear campaign that foiled his future business ventures.

In a complaint filed in the Philadelphia Court of Common Pleas, A. James Battista — one of the co-founders of ProfitPoint, a company that specializes in setting up gift card and customer loyalty programs for retail stores — claims NewSpring, after investing $6 million in the company...
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