Legal
Apollo Sued Over $570 Million Payout Tied to Leon Black Departure
- Pension fund seeks records on payment, questions justification
- Leon Black left Apollo in 2021 amid scrutiny of Epstein ties
Leon Black
Photographer: Patrick T. Fallon/Bloomberg
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Apollo Global Management was sued by an investor seeking information about $570 million in payments the private equity firm made to founders Leon Black, Josh Harris and Marc Rowan after Black’s ouster over his ties to sex offender Jeffrey Epstein.
The Anguilla Social Security Board filed a lawsuit on Aug. 17 that was unsealed yesterday in Delaware Chancery Court. The pension fund asked for an order requiring Apollo to produce records explaining why the three received the payments as part of a restructuring effort in the wake of the Epstein scandal.