Mickey Segal, the owner of celebrity concierge service NKSFB, has sued Goldman Sachs, alleging
that the investment bank tricked him into revealing business secrets to
secure a $7B buyout deal with a private equity group.
- Segal
said he hired Goldman Sachs to help him sell his business NKSFB which
wealth management firm Focus Financial Partners also owns.
- Segal
accuses Goldman of secretly dealing behind his back by shopping around a
proposed sale of Focus Financial Partners while the bank was meant to
be looking for buyers for his company NKSFB.
- Segal sold a majority economic stake in NKSFB to Focus shortly before the latter’s 2018 initial public offering.
- In 2022, Segal and his partners decided they wanted to part ways with Focus and hired Goldman to explore a sale of the business.
- Segal claims that Goldman was simultaneously working on a deal to take Focus private and did not disclose this information.
