Milberg Weiss Gets Into Harman Class Action Act
Harman International’s scuttled acquisition by two private equity firms has led to yet another class action investigation, this time by one of the nation’s top law firm for class actions. Milberg Weiss on Monday announced the start of an “investigation of possible illegal conduct” by Harman, on behalf of its investors.
Like several other already announced class actions by other firms- including Roy Jacobs & Associates, Stull, Stull & Brody and Brower Piven- the Milberg suit accuses Harman of making false statements, and otherwise scuttling the company’s purchase by Kohlberg Kravis Roberts (KKR) and GS Capital Partners VI Fund.
The private equity firms backed out of their purchase of Harman last month. citing a “material adverse change” in Harman’s business.