Lawsuit Indicates Alex And Ani Founder Divested Company Control


(Providence, RI)--A new lawsuit reveals Alex and Ani founder Carolyn Rafaelian [[ ruh-FAIL-yin ]] has given up financial control of the Cranston-based jewelry business.That detail is revealed in a federal lawsuit by Rafaelian against an investment company which stepped in to resolve a dispute of a bank loan, resulting in the restructuring of Alex and Ani last year.Rafaelian claims she is wrongfully being held in default on a promissory note.She says she remains a committed member of the company board.


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