Falcone, Execs Wrongly Forced Out Casino Co. CEO, Suit Says
Law360, New York (May 17, 2013, 6:31 PM EDT) -- Hedge funder Philip Falcone and two other executives involved in a Vietnam resort developer were hit by a lawsuit Thursday in New York state court over claims they forced out the development company's CEO through a wrongful administrative leave.
Falcone's Harbinger Capital Partners owns the Canadian-based Asian Coast Development (Canada) Ltd., which is developing a five-star casino and resort in Vietnam. Lloyd Nathan, the CEO of ACDL, contends that Falcone — along with Anthony Sanfilippo, the head of ACDL's minority equity holder Pinnacle Entertainment Inc., and ACDL chairman Robert Wolfe — have put Nathan on administrative leave without just cause, according...
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