Overview

• Limited partners Kisco WC Sports II and Kent Circle Investments filed a books‑and‑records action in Delaware Chancery Court on Aug. 21, with a redacted complaint released Aug. 27.
• The suit claims a June 2 capital call was announced without advance notice and used to pressure or dilute minority holders at a per‑unit price they say was strikingly low.
• Plaintiffs seek documents to probe potential undisclosed side deals and to clarify funding of the Mercury’s $100 million practice facility.
• In an Aug. 26 letter, Suns counsel said the investors cannot compel a buyout, noted their $825 million demand implying a valuation above $6 billion, and said they may market their stakes elsewhere.
• The plaintiffs are longtime holdouts Andy Kohlberg and Scott Seldin from the 2023 sale at a $4 billion valuation, and their Quinn Emanuel–led case focuses on inspection rights at an early stage.