Pharmacy chain seeking investors sued by investment strategy company

Kyle Barnett Dec. 13, 2012, 12:56pm

NEW ORLEANS – An Arizona-based pharmacy chain that contracted a Covington-based company to help it find investors is now being sued by that company for allegedly prematurely terminating the contract.

Synergy Capital, Inc. filed suit against Pharmacare, LLC in the Orleans Parish Civil District Court on Oct. 1.

Synergy claims it entered into an agreement with Pharmacare to capture investors for the pharmacy chain at a cost of $250 dollars an hour for the work done by principals and $150 done by associates plus seven percent of any capital brought in by Synergy.

The plaintiff alleges that it received an email only five months after the contract was assigned that ended the relationship between the two entities. Synergy asserts that the contract was scheduled to expire on Dec. 31, 2012 and that the termination of the agreement on Sept. 26, 2012 was premature.

The defendant is accused of breach of contract.

An unspecified amount in damages is sought for monetary damages.

Synergy Capital, Inc. is represented by attorney Gordon R. Konrad of New Orleans.

The case has been assigned to Division I Judge Piper D. Griffin.

Case no. 2012-09263.

More News