Mohsen Moazami - OpenGate Capital The first named plaintiff, OpenGate Capital Group LLC, and four of its subsidiaries named as plaintiffs are creatures of Delaware law as well. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); ACCE Action, Action Center on Race and the Economy, AFL-CIO, American Federation of State, County, and Municipal Employees, American Federation of Teachers, Agenda Project, American Family Voices, American Federation of Government Employees, American Federation of Teachers, Americans for Financial Reform, American Postal Workers Union, Beneficial State Foundation, Campaign for Americas Future, California Reinvestment Coalition, Catholics in Alliance, Center for Popular Democracy Action, Communications Workers of America, Consumer Action, Consumers Union, Courage Campaign, Center for Popular Democracy, CREDO, Communications Workers of America, Daily Kos, Demand Progress, Democracy for America, Economic Policy Institute, Franciscan Action Network, Friends of the Earth US, Groundwork Collaborative, Hedge Clippers, Institute for Policy Studies, Jubilee USA, Main Street Alliance, Media Voices for Children, MO Jobs with Justice, MomsRising, MoveOn, The Nation, National Education Association, NETWORK Lobby for Catholic Social Justice, New York Communities for Change, Citizen Action of New York (CANY), The Other 98%, Patriotic Millionaires, People for the American Way, Peoples Action, Presente.org, Public Citizen, RootStrikers, SEIU, Strong Economy for All Coalition, UNITE HERE, United Auto Workers, United Food and Commercial Workers, Working Families Party, Social Activity 2017 | All Rights Reserved, The Save the Post Office Coalition on Closed Postal Board Meeting Aug 5-6, 2021, We Stand with the Asian American and Pacific Islander Community, Biden FY24 Budget Puts Working People Over Wall Street, Pandemic Profiteering: Private Equity Gets Bigger in Every Way, The House Always Wins if You Own the House: Private Equity Housing Billionaires during COVID-19, The Megalomaniac Supervising the Maniac: Schwarzman, Trump, and Anti-Democracy, The Save the Post Office Coalition reacts to Louis DeJoys 10 year plan, How Tax Laws Paved The Freeway for Wall Street Giants, Remembering Tulsas Black Wall Street on Juneteenth, Private Equity and Megabanks Continue to Crush the Housing Market for the Middle Class and People of Color, Erasing Black People From American History: Why We Need Popular Education, The Save the Post Office Coalition Reaction to USPS Announcement on Electric Vehicles. OpenGate Capital Investor Profile: Portfolio & Exits | PitchBook Working at OpenGate Capital | Glassdoor Confronted with this looming loss, Hufcor employees, Janesville residents and CWA union organizers have rallied against OpenGates greedy and exploitative practices. They think its a big joke. OpenGate Capital - Darien Group A native of California, Lauren attended Cal State Long Beach where she majored in journalism and political science. The lab workstations unit, headquartered in Wisconsin, had facilities in Mexico, Texas and Arkansas. With its global presence and deep focus on target sectors and investment types, OpenGate is known to bring innovation and transformational value to complex transactions. close to . OpenGate Capital, the private equity firm that owns their employer, Hufcor, announced it was moving its plant out of Janesville, taking those workers jobs and livelihoods with it. Roughly $4.9 million of the $5.5 million of Weinbergs cash, forwarded to Newkirk, disappeared on Nov. 12, 2013, when a fake email, purportedly from Weinberg, released the money, prosecutors charge. He just settled this one, DeSantis board approves suing Disney in response to lawsuit, Regulators seize First Republic Bank, sell to JPMorgan Chase, What the work-from-home era has done to office politics, First Republic up in air as regulators juggle banks fate. In 2005, Nikou founded OpenGate Capital with $30,000 from his own savings. OpenGate Capital Shuts Gate on Janesville Plant After decades of pro-corporate globalization, people numb to its effects might write off Hufcors closure as a tragic but ultimately unavoidable consequence of a deadly pandemic and economic upheaval. This story has been shared 673,260 times. Among them were a French childrens book publisher, a Finnish paper producer, the Nicole Farhi division of fashion firm French Connection and Models One Ltd., the modeling agency that has represented supermodels Bar Refaeli, Alessandra Ambrosio, Linda Evangelista and others. It was one of the most shocking things that ever happened to me in my business life, Weinberg testified. [16], In 2012, through the firm's legacy, pre-fund investment process, OpenGate Capital acquired the Latin American operations of Getronics from the Dutch conglomerate, KPN. Nikou instead tries to generate goodwill as a philanthropist and has even started his own foundation, which boasts of a mission driven by values empowering individuals and communities. Nikou still sits on numerous boards, including that of the Hammer Museum in Los Angeles. When OpenGate bankrupted Pennysaver, a court-appointed trustee sued OpenGate for fraudulently siphoning money from the company through a variety of shady tactics: billing it for non-existent tax payments, loaning money to another OpenGate company at knockdown rates, and putting non-working OpenGate employees on its payroll. LOS ANGELES, August 23, 2022 -- ( BUSINESS WIRE )-- OpenGate Capital, a global private equity firm, announced today it . A court-appointed trustee also sued OpenGate for siphoning money from Pennysaver through a variety of shady tactics. Its website says its businesses generate annual revenue of about $3 billion, making it a small player.