A former managing director at Cerberus Capital Management LP
sued the firm, alleging she was wrongfully terminated after trying to correct
what she called misleading marketing materials.
Lisa Marie Vioni said in a complaint filed today in
Manhattan federal court that the New York private-equity firm provided
investors in a residential mortgage-backed securities fund with letters and
other documents “which materially misrepresented the fund’s performance.”
Cerberus also withheld from investors information that one
of the firm’s client’s held a total of 72 percent of the assets in the fund,
raising potential liquidity concerns, Vioni said in her complaint.
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