Forbes Investors Strike Back At Suit Over Botched $415M Deal
Law360, New York (December 16, 2015, 9:26 PM EST) -- The private equity-backed controlling investors of Forbes Media LLC have pushed back against allegations that they refused to fully fund the $415.6 million purchase of their 95 percent stake in the Forbes magazine publisher, saying they were lied to about tens of millions of dollars in potential legal liabilities.
Integrated Whale Media Investments Inc. — a consortium of Asian investors, led by Hong Kong private equity investment firm Integrated Asset Management (Asia) Ltd. — in a motion made public Tuesday sought to turn the tables on former Forbes Media parent Forbes Media Holdings LLC, saying Forbes family members made false representations...
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