Asset Value Fund, a company that owns shares in research company Find/SVP, filed suit against the company and its president, Andrew Garvin, in U.S. District Court, Southern District of New York. Asset Value Fund, a private partnership run by investor Paul Koether, charges that Find/SVP "induced" Asset Value Fund to purchase shares by using misleading information about its financial condition and prospects.
Asset Value Fund owns 973,400 shares in Find/SVP, a company that produces market data and surveys on industry trends, particularly in the interactive arena. Mr. Garvin said in statements released June 6 that "We categorically deny the allegations and find the complaint completely without merit and, in itself, full of misrepresentations and errors in fact."
Copyright June 1997, Crain Communications Inc.