Lawsuit reveals Rafaelian divested control of Alex & Ani in 2019 restructuring

Updated at 9:11 p.m. on June 4, 2020.

PROVIDENCE – Alex & Ani founder Carolyn Rafaelian is suing a private-equity firm now in control of the company, claiming that it is wrongfully holding her in default on a $5 million promissory note, according to a filing in U.S. District Court of Rhode Island on Wednesday. The filing said that Rafaelian ceded her controlling…
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