A few days ago we detailed the bitter seven-year battle between the founders of AriZona iced tea. Now another slugfest between longtime business partners—this one involving the world’s third-largest translation company—is heating up with a sanctions bid aimed at one of the company’s cofounders and her lawyers at Kramer Levin Naftalis & Frankel.
In lawsuits filed in May in state court in Manhattan and Delaware, Elizabeth Elting, co-CEO and cofounder of TransPerfect Global Inc., is pressing to force the dissolution of the company she and her partner Philip Shawe created in 1992. Elting also seeks to dislodge Shawe, her onetime fiancé, over alleged mismanagement.
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