Steel City Hotels and Jayeshkumar Barot were hit with a shareholder derivative lawsuit on Aug. 18 in Delaware Court of Chancery. The suit, filed by Fox Rothschild on behalf of Sima Patel, Pranay Maisuria and Sanjivkumar Parikh, accuses Barot of mismanaging a Red Roof Inn owned by the company and failing to pay the full amount of his equity contribution. Counsel have not yet appeared for the defendants. The case is 2023-0849-, Patel et al. v. Barot et al.
Hospitality, Tourism & Leisure
August 18, 2023, 8:12 PM