Ex-GC Who Sued His Former Employer, CFO Backtracks Allegations
In a Delaware lawsuit, now dismissed, the lawyer had alleged the CFO was fixing finances to give bonuses to executives.
November 24, 2020 at 01:59 PM
3 minute read
The former general counsel of a merchant cash advance company, who alleged that the company's CFO was fixing finances to give bonuses to executives, dismissed his suit against the company and CFO on Monday and said his allegations were inaccurate.
In December 2019, Steven Berkovitch filed suit against Oded Segev, the CFO of Delaware-based Five Hole LLC, claiming breach of fiduciary duties, unjust enrichment and conversion. He filed the complaint in the Delaware Court of Chancery.
Berkovitch was hired as general counsel of Pearl Capital Business Funding LLC, a company owned by Five Hole LLC, in 2015. According to Berkovitch's suit, Five Hole's CEO asked Berkovitch to buy a 0.33% membership, which he did. Berkovitch alleged that he was not given the return on his investment that he was promised.
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