On the heels of the SEC's charges that Tilton's firm lied to investors about the value of underlying loans of three collateralized debt obligations (Zohar I, II and III), comes this:
Lynn Tilton and Patriarch Partners were accused by investors of providing false and misleading information about her firm’s Zohar funds. Norddeutsche Landesbank Girozentrale and Hannover Funding Co. said in a lawsuit filing in New York state court that they invested more than $135 million in Patriarch’s Zohar funds. They said the “vast majority” of information they received about Zohar funds was false and misleading and seek at least $44 million in compensatory damages and unspecified punitive damages.
Presumably a video addressing the allegations, shot in Tilton's living room, is forthcoming.