Monroe Capital Drops Allegations Against Ex-Employee

Dec 8 2014 | 5:52am ET

It seems a former employee didn’t have designs on Monroe Capital’s business, after all.

The middle-market lending firm last week said that the employee, Warren Woo, hadn’t forwarded 300 e-mails from his Monroe account to one at his family office in order to set up a rival business. It added that Woo, a former UBS banker hired in 2011, would even remain an investor in its flagship fund.

“Upon further investigation, it is clear that Mr. Woo’s actions were not improper,” CEO Ted Koenig said. “We are pleased to have reached a mutually satisfactory settlement agreement with Mr. Woo.”

“I am pleased with the settlement and with the acknowledgment that my actions were in no way improper,” Woo, who set up and led Monroe’s Los Angeles office, said.

Woo was fired in June over the e-mail forwarding; Monroe added that he had deleted the forwards from his “sent” folder at work and told one potential client to send all future communications to his family office, Breakaway Capital.

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