Packaging Co. Sues PE Firms Over Forced Fire Sale

Law360, New York (September 27, 2012, 8:18 PM EDT) -- Oklahoma packaging company Pinnacle Packaging Co. Inc. hit two European private equity firms with fraud, breach of contract and intentional interference claims in federal court Wednesday, claiming they forced a sale of a Pinnacle affiliate to a third party with unfair terms.

Pinnacle said it had to hold a “fire sale” for Oracle Flexible Packaging Inc. that cost shareholders about $18 million and narrowly avoided bankruptcy after One Equity Partners LLC and Constantia Flexibles GmbH backed out of a deal to buy the company and pay...
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