Outback Operator Undermined Stakeholder To Boost IPO: Suit

Law360, New York (August 8, 2012, 8:16 PM EDT) -- Outback Steakhouse operator Bloomin' Brands, which went public on Wednesday in an initial public offering, faces a lawsuit accusing a subsidiary of disregarding the rights of a minority shareholder to boost the brand's pre-IPO value for its private equity owners, including Bain Capital Partners.

On July 30, co-founder and current Bonefish Grill minority stakeholder Timothy Curci hit Bloomin' subsidiary OSI Restaurant Partners LLC with a lawsuit in Florida state court alleging the company withheld important accounting information from him, opened up competing Bonefish Grill restaurants that...
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.