Siemens-First Capital Venture Ducks Suit Over Scuttled IPO

Law360, New York (February 28, 2013, 3:53 PM EST) -- A New York state judge recently dismissed a private equity fund's suit accusing a joint venture between Siemens Financial Services Inc. and First Capital Inc. of violating a credit agreement by canceling a public offering, ruling the venture was within its rights under the agreement.

Whitecap (US) Fund I LP, the majority owner of alarm companies Alarm Funding LLC, CastleRock Security Inc. and CastleRock Security Holdings Inc., sued the joint venture and its directors in March, accusing them of "intentionally destroying" the three related companies ahead...
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