Suit alleges collusion in purchase of Hard Rock
From the Associated Press
A rejected suitor for the Hard Rock chain of cafes and casinos claims in a lawsuit that the Seminole Tribe of Florida was the successful buyer because of improper collusion and bid rigging.
Baltimore-based development firm Cordish Co. and an affiliate, Power Plant Entertainment, contend that Hard Rock Cafe International Inc. management secretly negotiated with the Seminoles for seven months before plans to sell were announced in July.
The Seminoles announced the $965-million purchase of the Hard Rock empire from London-based Rank Group on Dec. 7.
The Cordish lawsuit says the company and its banker, Goldman Sachs & Co., were refused the right to bid for the business even though they could have made a larger offer.
