Metals Co. Cheated Us Out Of $6.7M, Texas Finance Firm Says

Law360, Dallas (November 8, 2012, 5:26 PM EST) -- A Texas investment banking firm is asking a state court to enforce a $6.7 million arbitration award against a metals distributor and its CEO, claiming the CEO plotted to cheat the advisers out of fees in a securities sale after he embezzled funds, according to a lawsuit filed Nov. 1.

White Rock Advisors LLC and Southwest Merchant Group Inc. say they lost out on millions in agreed-upon fees from arranging financing and the sale of The Richardson Trident Co. LLC after its former chief, Thomas Bentley,...
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