An investment banking firm has lost its dispute over a completion fee for the investment in an American foundry business by a Japanese materials company.
Southern District Judge George Daniels granted summary judgment against TrueNorth Capital, which alleged that it should get a $6.8 million fee for the $1.3 billion acquisition of Waupaca Foundry Company in 2014 by Hitachi Metals America (HMA), a subsidiary of Hitachi Metals Ltd.
The Morgan Lewis team representing HMA was led by partner Troy Brown with support from of counsel Margot Bloom and associates Caitlin McKenna and Adria Lamba. Strategic guidance was provided throughout the case by partner Alan Neuwirth.