A group of 35 foreign investors who sunk a total of $18.5 million into the Northern Beef Packers plant in Aberdeen, S.D., has sued the state of South Dakota. The suit claims that the state officials misrepresented that the project was financially sound. He suit seeks to recover the full investment of $18.5 million, reports The Capital Journal.
The investors' lawsuit claims that Northern Beef Packers in Aberdeen did not have adequate financing to generate revenue or support additional financing and was already plagued by years of delays. It seeks to recover the $18.5 million invested into the plant.