ABRY Partners, a buyout firm, is suing private equity firm Providence Equity Partners in Delaware Chancery Court in a rare legal dispute between private equity players. ABRY is charging that Providence allegedly artificially inflating revenues of F&W Publications Inc., a company ABRY bought from Providence for $500 million in August, according to court documents.
"Providence Equity categorically denies any wrongdoing related to the transaction. Because the lawsuit is pending, Providence cannot comment on any of ABRY's allegations other than to say that Providence will vigorously defend the suit in the proper legal forum," a Providence spokesman said.
