In September 2007, the parties formed Cardinal and Crimson Capital, LLC for the purpose of engaging in a "search fund," whereby the partners would solicit investment capital of $600,000 from investors, use that capital to search and acquire a business with growth potential, expand it, and create a "liquidity event," such as selling it for a profit, thereby allowing the investors to receive a return on their investments.
Although plaintiff was employed in the investment...
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