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Chinese printing giant Ninestar has filed a $470 million lawsuit against investment firm PAG Asia Capital, claiming it was forced to sell Lexmark at a rock-bottom price against its wishes. The lawsuit, filed in the Zhuhai Intermediate People’s Court, accuses PAG of abusing shareholder rights and refusing to support Lexmark after U.S. slave labor sanctions impacted its operations mostly for counterfeiting toner consumables. Ninestar argues that PAG prioritized short-term profits over the long-term value of Lexmark, effectively coercing the company into a sale it did not want. This legal battle comes amid ongoing cross-border arbitration in Hong Kong and highlights the risks of international joint ventures, where aggressive investors can override operational partners.
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