CHICAGO (Legal Newsline) – The former chairman and CEO of Sky Analytics Inc. alleges a buyer of its shares made misrepresentations and omitted facts.
Ronald Gruner, individually and as representative of the former stockholders of Sky Analytics Inc., filed a complaint on March 23 in the U.S. District Court for the Northern District of Illinois, Eastern Division against Huron Consulting Group Inc. and Consilio Inc. over alleged violation of the Illinois Securities Law and fraudulent inducement.
According to the complaint, on Dec. 30, 2014, Huron Consulting Group purchased 100 percent of Sky Analytics outstanding shares.
However, the plaintiff alleges the defendants made numerous fraudulent misrepresentations and omitted numerous material facts in connection with the share purchase and the negotiations. He alleges that had "the former shareholders known the truth regarding these material misrepresentations and omissions, they would never have agreed to the purchase agreement or earn-out provisions."
The plaintiff holds Huron Consulting Group Inc. and Consilio Inc. responsible because the defendants allegedly made deliberate misrepresentations and omissions as part of a scheme and plan to induce the former shareholders to agree to the purchase price and future earn-out provisions.
The plaintiff requests a trial by jury and seeks judgment for compensatory and punitive damages, costs, pre- and post-judgment interest, and such other and further relief as the court deems just and proper. He is represented by Michael P. Tomlinson and Michael Munley of Tomlinson Law Office PC in Chicago.
U.S. District Court for the Northern District of Illinois, Eastern Division case number 1:18-cv-02143