Private equity firm MBK Partners has threatened legal action against Korea Zinc management over what it called “false and misleading” claims about companies in its investment portfolio, escalating the latest fight for control of the zinc smelter ahead of an extraordinary general meeting (EGM). Korea Zinc is due to hold the EGM on Sept. 9, with shareholders set to vote on five outside directors, including one audit committee member. The MBK Partners-Young Poong alliance, the smelter’s largest shareholder, is seeking to take control of the board in a contest with Chairman Choi Yun-beom. MBK objected to explanatory materials for the meeting posted on Korea Zinc’s website by Choi’s camp, accusing the company of selectively presenting and distorting facts about the performance of executives at its portfolio companies. The private equity firm demanded that the problematic materials be removed and that measures be taken to prevent similar claims from being made again. It warned that it could pursue criminal complaints and other legal action if its demands are not met. The disputed mat