PE Firm Punished Managers For Leaving, Suit Says

Law360, New York (June 6, 2013, 8:45 PM EDT) -- Two former investment managers at middle-market private equity firm Centre Partners Management LLC sued the company in New York state court on Wednesday claiming it improperly retained their capital funds as part of an effort to punish them for joining another firm.

Scott Perekslis and Robert A. Bergmann claim Centre withheld their capital accounts and burdened their funds with disproportionate losses and expenses after the two decided to join Bregal Investments Inc. in January 2012, according to their lawsuit.

"This action arises from defendants' breaches of...
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