Private equity firm Thomas H. Lee Partners, which recently sued Mayer, Brown, Rowe & Maw over the law firm’s role in the collapse of commodities brokerage Refco Inc., was itself sued Wednesday by the liquidated company’s creditors.
The 81-page complaint filed in Manhattan federal court by the Refco Litigation Trusts claims Boston-based Lee, which bought a controlling interest in Refco in 2004, knew about serious problems with Refco internal governance, but concealed or ignored them because it wanted to push ahead with an initial public offering that promised to earn the firm hundreds of millions of dollars.
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