$25 Million ‘Pure Fiction’ In Natrol Price Tag Made Real
This article was originally published in The Tan Sheet
Natrol owner Aurobindo asks a bankruptcy court for an order before previous owner Plethico Pharmaceuticals agrees to pay close to the price of a phantom engineering contract Plethico claimed as a debt. Aurobindo alleged Plethico sold Natrol to prevent creditors from uncovering the sham.
You may also be interested in...
Gaspari Nutrition, acquired by Allegro Nutrition, sought Chapter 11 protection after its debt load outstripped its revenue outlook. Natrol threw in the towel and filed after federal judges consolidated multiple class action claims accusing the firm of false advertising for its joint relief products.
Plethico Pharmaceuticals' $80.8 million acquisition of Natrol could be a bellwether of Indian firms' interest in growing their presence in the U.S. supplement market
Revlon approved for $1.4bn debtor-in-possession financing from BrandCo Lenders, a group of operating subsidiaries formed in capital structure changes which owns much of Revlon’s intellectual property. Firm appoints interim CFO to set course for debt restructuring.