Roma president James Pallotta sued by minority stakeholders of the club

John Solano

American legal website Law360 has reported that Roma president James Pallotta and other majority stakeholders of AS Roma are being sued.

The website states, “In a suit made public on Thursday, Daniel Feldman, Jonathan Wyatt Gruber and two investor entities that are members of AS Roma SPV LLC, which controls Associazione Sportiva Roma SpA, contend that as the lucrative football club is being shopped to potential buyers, managing members are trying to freeze them and other minority members out of their economic stake”.

In the suit, the pair contend that “the day-to-day management (group) of the company (are) trying to wipe out the economic interests of the company’s minority members through a nakedly self-interested transaction in flagrant violation of the LLC’s operating agreement”.

The suit is all in connection to Pallotta’s attempts to sell the club. The Giallorossi have been in negotiations with Houston-based tycoon Dan Friedkin since October.

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MatchDay 38
26 May 20:45