Crist Among Group Suing Former Owners of Daily Racing Form

[Wandering Eyes]

Steven Crist and three other former employees of the Daily Racing Form have filed a suit against the former owners of the paper alleging that Arlington Capital Partners L.P. and its affiliates misrepresented the financial condition of the paper when inducing the Plaintiffs to invest into the Form, according to legal documents filed Friday in the Supreme Court of New York, County of Nassau.

According to the suit, filed by by attorney Drew Mollica, Crist and former DRF Editor in Chief Rich Rosenbush each invested $100,000 in the company Sports Information Group LLC, an affiliate of Arlington that oversaw the operation of the Form. The court filing also maintains that Vice President of Marketing Amanda (Mandy) Minger invested $75,000, as did former DRF Vice President Jeffrey Burch.

The Plaintiffs maintain that none of them have received as much as one cent of return on their investment, which was made in 2017. They also alleged that Arlington stonewalled their attempts to receive updates on their investment and pertinent tax information.

“Plaintiffs had been fraudulently induced to invest in SIG Holdings and defendants had fraudulently concealed that fraud and other and other related malfeasance for 12 years,” the suit reads.

In 2017, Arlington sold the paper to Z Capital Partners LLC. Z Capital is listed as a defendant in the suit as are Arlington/SIG executives John Hartig and Jeffrey Freed.

This story will be updated in Saturday’s edition of the Thoroughbred Daily News.

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