Universal American, GTCR sue each other over healthcare deal

[riky]

Universal American, GTCR sue each other over healthcare deal

(Reuters) - Healthcare benefits provider Universal American Corp sued private equity firm GTCR LLC on Tuesday to undo a $222.3 million acquisition it said was induced by fraud, a day after GTCR filed its own lawsuit to block Universal's claims. The dispute goes to the heart of the business of the private equity industry, where firms buy companies and hope to sell them later at a profit. Finding interested buyers and avoiding the taint of fraud are crucial to a firm's ability to earn big profits for itself and its investors. In a complaint filed on Tuesday in the U.S. ...

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