Fort Lauderdale, Florida – In a recent development, Florida-based investment firm Cap10 Partners LLP has been sued in Federal Court for their attempted takeover of a UK addiction treatment company. After a Florida court issued a temporary block on Cap10’s acquisition attempt, the company now faces a permanent injunction and potential damages of up to $132,000,000.
According to the complaint, Cap10 has been accused of engaging in fraudulent activities to gain ownership of the UK addiction treatment company. This includes thwarting the company’s efforts to refinance its debt with a third-party, with the ultimate goal of acquiring the company’s assets at a significantly lower value.
The complaint also alleges that Cap10 has disseminated confidential information obtained during prior negotiations to third-parties in an attempt to hinder the company’s debt refinancing efforts and lower the market value of its assets.
Following these allegations, the Florida Court has temporarily prohibited Cap10 from purchasing any stock or assets of the UK addiction treatment company.
“We are thankful for the Court’s intervention in protecting the interests of the UKAT Trust, which is the majority owner of the UKAT assets,” says Robert “Bo” Gaddy, the beneficiary of the trust. “Cap10’s fraudulent actions have been ongoing for over a year and it is time for them to be held accountable,” adds Gaddy.
Gaddy also mentions that they plan to take further legal action against anyone involved in perpetuating this fraud and conspiracy, including Cap10’s partners and investors.
The case has been distributed by pressat.co.uk on behalf of the UKAT Trust.
