Owners of trendy pizzerias accused of cheating investors
The husband-and-wife team behind New York’s hippest pizza chain have been accused of slicing investors out of lucrative plans to expand.
Matthew and Emily Hyland just opened their latest hot spot, Emily West Village, after launching Emily in Clinton Hill and Emmy Squared in Williamsburg.
But five investors, collectively called Garlic Knots 364 Inc., allege in New York Supreme Court papers that the Hylands hid profits from them, squandered their cash and went behind their backs to expand to Manhattan and beyond.
The spicy suit filed in April alleges the pie-making pair double-crossed their Emmy Squared investors by creating a separate holding company, then expanding under a different name. The suit also alleges the Hylands engaged in “instances of corporate mismanagement,” such as paying themselves “unauthorized management fees” and “subsidizing . . . personal trips and vacations.”
Read more: http://pagesix.com/2017/06/17/owners-of-trendy-pizzerias-accused-of-cheating-investors/