Monomoy Cut Auto Co. Out Of Acquisition, NY Court Told

Law360, New York (May 15, 2013, 4:50 PM EDT) -- A Cleveland auto parts manufacturer's attorney told a New York state appeals court Wednesday that private equity firm Monomoy Capital Partners LP should face allegations it went behind the company's back to cut it out of a developing deal to buy another automotive supplier.

Northern Stamping Inc. allegedly had a deal with New York-based Monomoy to jointly pursue a possible $25 million acquisition of Tipton, Indiana-based Steel Parts Manufacturing Inc. But instead, Monomoy violated confidentiality agreements and inked a deal with Steel Parts on its own,...
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