Rank Group and The Seminole Tribe from Florida, which recently acquired the Hard Rock Cafe International Inc., the operator of cafes, hotels and casinos, from Rank, are being sued along by Cordish Co., a company that has previously developed Hard Rock cafes with the tribe.
According to Cordish, the two firms conspired to leave it out of the bidding for the Hard Rock properties, which the Seminole Tribe took over. Cordish is also suing Merrill Lynch, the American investment bank, for $75 million for denying Cordish access to paperwork to complete their due diligence to reach a competitive bid price.
Seminole Hard Rock Entertainment responded Tuesday and said the lawsuit is part of a continous effort by Cordish to obstruct its successful enterprises and those of the Seminole Tribe of Florida.
The Seminole-Hard Rock deal includes 124 Hard Rock Cafes, four hotels, two casino hotels and other properties. Rank shareholders are scheduled to vote next Monday on whether to approve the sale.
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