Kohlberg Capital Wins Dismissal of Investor Suit Alleging False Statements
Kohlberg Capital Corp. (KCAP), the investment company taken public in 2006 by leveraged-buyout pioneer Jerome Kohlberg, won dismissal of a lawsuit filed by an investor.
Kohlberg Capital was sued in federal court in Manhattan in December 2009 by investor Dennis J. Angeleri of Muskegon, Michigan, who accused the New York-based company of lying about the value of its portfolio.
Angeleri said in the suit that Kohlberg Capital issued a release in November 2009 that was “materially false” because it misstated the value of the company’s investment portfolio. Kohlberg asked U.S. District Judge Miriam Goldbaum Cedarbaum in June to dismiss the complaint, saying its investments are difficult to value.
Cedarbaum on July 28 signed an order approving Kohlberg’s motion, according to a court document filed today. Cedarbaum said Angeleri can file an amended complaint no later than Aug. 22.
The case is Angeleri v. Pearson, 09-cv-10609, U.S. District Court, Southern District of New York (Manhattan).
To contact the reporter on this story: Chris Dolmetsch in New York at cdolmetsch@bloomberg.net
To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net.
Rate this Page