Kumble awarded in breach of contract dispute

Private equity fund manager Lincolnshire Management earlier this year commenced an arbitration seeking more than $11,000,000 in damages from its former president and CEO Steven J. Kumble in a breach of contract dispute. After an eight-day arbitration, Kumble was awarded over $1.4 million plus interest on his counterclaims that Lincolnshire had wrongfully withheld money from him as an investor in one of its private equity funds, including unauthorized litigation management fees charged to the fund, and unauthorized loan deductions taken by Lincolnshire.

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