Platinum Equity Cooked Books In $88M Deal, Suit Says

Law360, New York (September 10, 2013, 8:30 PM EDT) -- Investors who purchased the integrated supply chain management firm SDI Inc. in 2011 for $88 million filed suit in Pennsylvania state court Thursday accusing Platinum Equity LLC of cooking the company's books prior to the sale in order to hide its severe financial distress.

SDI filed the complaint, along with Strategic Distribution Holdings Inc., which helped facilitate the acquisition, and Project Eagle Holding Corp., which owned SDI stock before it was acquired by the investors. Six of Platinum’s managers or former managers, along with an affiliate...
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