A former executive with WL Ross & Co is suing the private equity firm to force it to open its books and records to him, the Wall Street Journal reported.
David Storper, once a member of WL Ross’s Investment Committee, states in his suit that he has a “reasonable and credible basis to believe that mismanagement may have occurred,” the Journal reported.
Storper retired from WL Ross in April 2012 and went on to co-found and act as co-chief investment officer of investment firm Armory Merchant Holdings.
He previously worked for WL Ross for more than 16 years, according to hisbiography on the Armory website. Storper “was an original member of WL Ross’ Investment Committee and Office of the Chairman and was involved in all aspects of sourcing, trading and the financial restructuring of investments in a diversified group of industries including financial institutions, steel, textiles, automotive, natural resources, transportation leasing and shipping,” the website states.