Apollo Sued Over $570 Million Payout Tied to Leon Black Departure

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Apollo Sued Over $570 Million Payout Tied to Leon Black Departure
France Dernières Nouvelles,France Actualités
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Apollo Global Management was sued by an investor seeking information about $570 million in payments the private equity firm made to founders Leon Black, Josh Harris and Marc Rowan after Black’s ouster over his ties to sex offender Jeffrey Epstein.

The Anguilla Social Security Board filed a lawsuit on Aug. 17 that was unsealed yesterday in Delaware Chancery Court. The pension fund asked for an order requiring Apollo to produce records explaining why the three received the payments as part of a restructuring effort in the wake of the Epstein scandal.

“The process leading to the challenged payoff was rife with conflicts and procedural unfairness,” lawyers for the Anguilla fund said in the 83-page complaint. Black has continued to be in spotlight over his ties to Epstein even after his 2021 Apollo departure. He sued Harris and several other people alleging they conspired with Russian model Guzel Ganieva to destroy his reputation with allegations of rape and abuse.

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