Investors Claim Priceline Cheated Them by Hiding Acquisition
An investor in travel site Priceline.com's parent company has sued the company for allegedly defrauding it out of millions in investment opportunities.
June 01, 2017 at 05:28 PM
5 minute read
An investor in travel site Priceline.com's parent company has sued the company for allegedly defrauding it out of millions in investment opportunities.
In its complaint, filed Wednesday in Stamford Superior Court, Tersly Investment Ltd. claimed the Priceline Group hid the fact that it acquired a company called Momondo.
Momondo, according to the suit, is owned by Highlander Worldwide Ltd., with which Tersly had signed a settlement agreement ending a long-running dispute. Part of the settlement released future investment claims. Tersly alleged that if it had known Priceline was acquiring Momondo, it would not have settled with Highlander and thus would not have missed out on millions in investment rights.
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