By: Maceala J. Bennett

Private- equity firm manager Dean Barr, along with his attorneys at Carmody Torrance Sandak & Hennessey LLP, successfully defended claims brought against him by the Milstein Family, the founders of Burlington Coat Factory and investors in Mr. Barr’s firm. The Milsteins had invested several millions of dollars in the fund before its ultimate decline, and claimed that the risks associated with the investment were misrepresented to them. The Connecticut District Court disagreed, and ultimately found that the Milsteins were sophisticated investors, were aware of the risks related to their investment and dismissed the claims brought against Dean Barr. Mr. Barr has retained Pastore & Dailey to bring claims of his own in Connecticut State Court against the Milsteins as well as his former partners.

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Tags: Commercial Litigation, Securities