Apollo Stole Litigation-Funding Trade Secrets, Suit Claims
- Greenpoint Capital says its valuation method was sent to rival
- Emails with confidential information were tracked, suit says
Leon Black, chairman and chief executive officer of Apollo Global Management
Photographer: Patrick T. Fallon/BloombergThis article is for subscribers only.
Two Apollo Global Management units were accused by a firm that funds high-stakes lawsuits of stealing its method for calculating the value of the cases.
Greenpoint Capital Management, which raises money from investors and lends it to law firms involved in litigation that may result in big settlements or verdicts, sued Apollo Hybrid Value Management LP and Apollo Hybrid Value Management GP in Manhattan federal court late Wednesday.