US tech company sues acquisition advisory firm; says: You made us buy 'wrong company' for transaction fees
A tech firm, SmarTek21, is suing its advisor, TGP GP Management, alleging it was misled into a $5.2 million acquisition of IT Avalon. SmarTek21 claims TGP rushed the deal despite concerns about IT Avalon's finances, which have since required significant cash infusions. TGP, however, denies the allegations, asserting thorough due diligence and a strong business outlook for the combined entity.
A tech firm, SmarTek21, is suing its advisor, TGP GP Management, alleging it was misled into a $5.2 million acquisition of IT Avalon. SmarTek21 claims TGP rushed the deal despite concerns about IT Avalon's finances, which have since required significant cash infusions. TGP, however, denies the allegations, asserting thorough due diligence and a strong business outlook for the combined entity.
