TPG Beats Ex-Spokesman’s Bid to Toss ‘Take-Down’ Threat CaseAndrew Harris
TPG Global LLC defeated a bid by its former spokesman and one-time White House aide to throw out a lawsuit accusing him of threatening to “take down” the buyout firm after being denied a promotion.
Adam Levine, a former deputy spokesman for Republican President George W. Bush, failed to persuade a federal judge in Fort Worth, Texas, on Monday to dismiss the lawsuit filed in January.
TPG accuses Levine of taking confidential information and leaking it to the press and then threatening to “take down” the firm after being passed over for partnership last year. He was fired Dec. 31, according to court papers.
Levine said in a lawsuit he filed in April in federal court in Oakland, California, that the firm ousted him in retaliation for blowing the whistle on misconduct.
TPG, founded by billionaire David Bonderman, agreed on Monday to sell its drug company, Par Pharmaceutical Holdings Inc., to Endo International Plc., in a transaction valued at $8.05 billion including the assumption of Par debt.
The Fort Worth, Texas, firm, which is acquiring $1.55 billion in Endo stock and $4.1 billion in cash, also has a stake in bankrupt Caesars Entertainment Operating Corp.
U.S. District Judge John McBryde found TPG’s claims against Levine were sufficient to allow its case to go forward. He didn’t rule on the merits of the suit.
Levine’s lawyer, James W. Morris, didn’t immediately respond to a phone message seeking comment on the decision. Levine joined TPG in 2008.
The firm’s case is TPG Global LLC v. Levine, 15-cv-00059, U.S. District Court, Northern District of Texas (Fort Worth). The retaliation case is Levine v. TPG Capital LP, U.S. District Court, Northern District of California (Oakland).
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