Benrus CEO files suit against former owner

PROVIDENCE – Giovanni Feroce, CEO of Benrus LLC, has filed a civil lawsuit against the former owner of the company, alleging contract interference, fraud and negligent misrepresentation.

Benrus and GF Asset Management LLC are listed as plaintiffs, while defendants are Bernie Mermelstein and his companies, B-Man 1 LLC and M.Z. Berger & Co. The 38-page lawsuit was filed in the Court of Chancery in Delaware on Dec. 28.

Breach of contract also was alleged against B-Man and Mermelstein.

Feroce’s GF Asset Management launched the lifestyle brand, Benrus, in June 2014, taking it over from New York City-based M.Z. Berger.

- Advertisement -

The lawsuit states the defendants delayed signing agreements involving Feroce’s purchase of the company for 10 months, to keep profits from increased orders.

Feroce took over the company in April 2015. The suit states the defendants “deliberately concealed” that Feroce’s marketing efforts doubled back-to-school sales, resulting in more than $1 million in additional sales. •

No posts to display