With her billions and her outsized personality, Lynn Tilton has always attracted attention. But she also aroused the interest of the U.S. Securities and Exchange Commission, which on Monday accused Tilton and her private equity firm, Patriarch Partners, of misleading investors and raking in $200 million in ill-gotten gains.
Tilton, aka the “Diva of Distressed,” has tapped David Zornow and Christopher Gunther of Skadden, Arps, Slate, Meagher & Flom to fight the SEC’s charges, which were filed as an agency administrative complaint. The SEC claims Tilton and Patriarch concealed the poor performance of loan assets in a set of three collateralized loan obligation (CLO) funds. Known as the Zohar funds, the CLO funds have raised more than $2.5 billion from investors, according to the SEC.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
