Dura Medic Investors Sue Private Equity Buyer

Law360 (March 25, 2020, 5:38 PM EDT) -- Independent investors in medical equipment supply manager Dura Medic Inc. launched a derivative suit in Delaware Chancery Court on Tuesday, accusing an affiliate of Comvest Partners of putting the business into a nosedive in order to recoup most of the private equity firm's $30 million merger cost in 2018.

In the complaint, lead plaintiff and Dura Medic founder Mark Newton accuses Comvest Investment Partners Holdings LLC and four individuals of failing to submit Medicare billings and undermining the company's revenues and operations in order to weaken its financial performance following the May 2018 merger.

After acquiring control, the suit said, managers...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!