Polycom Hid Customer Losses, Voided $110M Deal: Sun Capital

Law360, Wilmington (September 5, 2012, 7:06 PM EDT) -- Sun Capital Partners V LP claims it should be allowed to walk away from a $110 million deal to buy Polycom Inc.'s mobile handset business because the seller allegedly hid from the private equity firm that the unit had lost key customers, according to court documents unsealed Tuesday.

Two weeks ago, Polycom sued Sun Capital in Delaware Chancery Court to force the private equity firm to follow through on its planned purchase of SpectraLink Corp., saying Sun Capital was trying to back out of the deal due to simple "buyer's remorse."

However, in counterclaims filed with the court, Sun Capital said...

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