ARTICLE | Financial News

LPs go after Burrill

July 14, 2015 1:25 AM UTC

Burrill Life Sciences Capital Fund III L.P. filed a lawsuit alleging that G. Steven Burrill, Burrill & Co. and members of the firm's management team embezzled more than $17 million from Fund III between 2007 and 2013.

The suit by the fund's limited partners, filed on July 6 in California Superior Court in San Francisco, alleges general partner Burrill Life Sciences Capital Fund III Partners and the other defendants caused the fund "to suffer more than $30 million in investment losses" plus additional damages. ...