Lynn Tilton and Tilton Patriarch Partners LLC

Supreme Court Manhattan: Two investors in funds managed by Tilton Patriarch Partners LLC said in a lawsuit filed Friday that it obvious that the vast majority of the information they received from the firm was false and misleading, according to Bloomberg. Hannover Funding LLC and Norddeutsche Landesbank Girozentrale are seeking at least $44 million in their lawsuit in state Supreme Court in Manhattan. Photographer: Alberto E. Rodriguez/Getty Images Lynn Tilton, the so-called Diva of Distressed who already defending SEC claims of overcharging customers by almost $200 million in fees, now faces fraud allegations by her clients. The suit against the self-professed billionaire follows the Securities and Exchange Commission March 30 complaint against Tilton, claiming she overcharged investors on fees collected on $2.5 billion of collateralized loan obligations, or CLOs. Tilton has gained notoriety over the years for her brash management style, once explaining that she stripped and flipped men -- not companies. Tilton reported the value of the underlying loans as unchanged even though many of the companies had made partial or no interest payments for years, the SEC said. (news.financializer.com). As reported in the news.