New York, NY — February 12, 2019 — A minority investor, Dominion Capital LLC, of Manhattan’s Playboy Club filed a complaint against Merchant Capitals Inc..
Dominion Capital LLC is represented by Meister Seelig & Fein‘s Mitch Schuster , Eugene Meyers, and Amit Shertzer. Dominion claims it has been shut out of major financial and management decisions despite obligations stipulated in the agreement to contractual information rights, a seat on the advisory committee, and veto rights. Dominion’s complaint states it only found out some details of Merchant’s alleged mismanagement matters through a 2017 public filing of a wrongful termination suit filed by the former CEO, Alexander Mizra. Dominion’s suit calls for a court judgement declaring the forming of an advisory board with a Dominion representative holding a seat, regularly distributed copies of the annual hotel budget and audited financial statements, a list of all MHI Cachet bank accounts, and provide copies of tax returns. Additionally, Dominion seeks an injunction requiring Merchants to perform its obligation LLC agreement and pay attorney fees related to the suit.
Law360, February 7th, 2019 — read the full article here.
The Real Deal, February 8th, 2019 — read the full article, here.