Ferrum then came calling for its $5.25 million breakup fee.
The lawsuits and subsequent federal indictments claim the following: ferrum capital lawsuit 2021
: A San Antonio-based financial advisor and affiliate. She was reindicted on 14 counts and recently pleaded to federal charges, including using investor funds for personal expenses and paying other investors. Impact and Current Status Ferrum then came calling for its $5
Disclaimer: This summary is based on public court records (Case No. 3:21-cv-02483, N.D. Cal.) and media reports from 2021-2022. Settlement terms are undisclosed. For legal advice on this or any case, consult an attorney. Impact and Current Status Disclaimer: This summary is
Enter Ferrum Capital. According to the complaint filed in June 2021, Ferrum agreed to provide a massive $35 million PIPE investment. In exchange, Hightower made a critical concession: they agreed to pay Ferrum a if the merger failed to close by a specific drop-dead date.
: A bankruptcy judge later ruled that Ferrum operated as a Ponzi scheme, using funds from new 2021 investors to pay earlier participants lubbocklights.com
The year marked a critical turning point in the timeline of Ferrum Capital's legal troubles. During this period, the following events unfolded: