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LOS ANGELES ? Broadstream Capital Partners, a merchant bank that assists with mergers and acquisitions, has filed a lawsuit against Penthouse Media Group Inc. The suit alleges Penthouse breached a contact to acquire Various Inc. ? the company that owns and operates AdultFriendFinder.com and other social networking sites ? as a joint venture with Broadstream.
In its lawsuit, which was originally filed in Los Angeles Superior Court in December and moved to U.S. District Court in February, Broadstream alleged that Penthouse has committed breach of contract, breach of the covenant of good faith and fair dealing, breach of fiduciary duty and constructive fraud. .................................
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