News / CEVA executives who lost investments take new complaint against Apollo to court

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CEVA management who claimed they were forced by private equity shareholder Apollo Global Management to put “skin in the game” ? investments that were later rendered worthless ? have amended their complaint in a Florida court.

The filing noted that during the original negotiations those executives who had been holders of TNT equity were “collectively required to contribute 9% of initial capital contributions (€15m)” to CIL, a Ceva investment company.

The filing claims that Apollo told them: “in any private equity transaction, ...