US tech firm sues acquisition adviser for driving a deal for fees & publicity

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Two US tech firms are locked in a legal dispute over an acquisition that has turned sour, according to the news site Geekwire. The Washington-based SmarTek21 has filed a lawsuit against its New York-based acquisition adviser, TGP GP Management, claiming it was steered into a $5.2 million deal that was expected to generate $1 million a year, but has instead needed repeated cash injections to keep the business running.

SmarTek21, a long-established technology consulting company, accused TGP GP Management of carrying out “egregiously defective due…



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US tech firm sues acquisition adviser for driving a deal for fees & publicity



Two US tech firms are locked in a legal dispute over an acquisition that has turned sour, according to the news site Geekwire. The Washington-based SmarTek21 has filed a lawsuit against its New York-based acquisition adviser, TGP GP Management, claiming it was steered into a $5.2 million deal that was expected to generate $1 million a year, but has instead needed repeated cash injections to keep the business running.

SmarTek21, a long-established technology consulting company, accused TGP GP Management of carrying out “egregiously defective due…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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