Just this year, we saw a lawsuit regarding a company sale but things didn’t work out really well for the new owners of the company, so they decided to sue the old owners, and that’s pretty interesting to begin with. And if you still don’t get it, yes, we’re talking about the recent Gorman Group Albany Sale Lawsuit, which surfaced just this year in February. So, what’s the brief about this case? Well, as you can already tell, this has something to do with the Gorman Group, which is based in Albany, New York. You see, back in 2024, this company was sold to other two companies (Peckham Industries Inc. and All States Materials Group) which are also in the same road and construction business. And just so you know, the deal was worth about $81, but after a few months, things went kinda southways for the new owners. Let’s go over to the details of this case and see what really went down.
The whole story starts with a company called The Gorman Group, based in Albany, New York. They’ve been around for decades, doing asphalt work and road construction. It was a family-owned business, started by Don Gorman, and later run by his son, Mark Gorman.
From Business Deal to Courtroom Drama
You see, this Gorman Group was started by a man named Don Gorman, and then it was run by his son, Mark Gorman. Back in May 2024, the deal went kinda great, but not for long though. Nobody knew the exact details like what went wrong after the final deal, but when Peckham and All States filed a lawsuit in February 2025 in Albany County Supreme Court, it all became clear from there on.
The main allegation is that before the sale, the Gorman Group owners knowingly hid some big problems regarding the company and they still went on to sell the company so that the new owners had to face and fix the problems.
There were a lot of things that needed fixing, but the Gorman Group didn’t tell the new owners about anything related to these problems, let alone how much work or money would be needed to fix things up for good. Just to let you know about what problems we’re talking about, well, the buildings and equipment needed more repairs than they initially thought.
Gorman Group Fires Back
Though, it isn’t just the new owners that are doing all the talking, nah, Mark Gorman, the old owner of the company isn’t staying quiet too. He put his words out there and said that this lawsuit is just “frivolous and ridiculous” and nothing else.
As per Mark Gorman, the allegations made by the new owner don’t make any sense at all. Like, he says that the buyers had access to literally all the records of the company and they knew exactly what they were getting themselves into. At the time the deal was being finalized, there were lawyers present from both sides, and nothing was hidden before the final decision. In simple terms, Gorman is saying: “We gave you all the info. If you didn’t catch something, that’s on you.”