Jefferies Financial Group Inc. sued a company acquired in a blank-check merger, claiming it received stock now worth only about $40,000 instead of a promised $7 million underwriting fee.
In a suit filed Thursday in New York, Jefferies said Rubicon Technologies Inc. violated an agreement to pay the fee in either cash or freely tradable shares. Instead, Rubicon allegedly paid Jefferies in restricted shares with a current market value much lower than the agreed fee.
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