
David Brown, an investor from Los Angeles, alleges that “Hef” sabotaged potential deals for the sale of Playboy Enterprises late last year because he wanted to cling to his hedonistic existence.Hefner owns 70 percent of the voting stock in Playboy which effectively allows him to do anything he wants. And he does. And Mr. Brown doesn't like it, claiming Hefner has breached his "fiduciary duties" to minority investors.
His lawsuit claims that despite Playboy’s huge losses in recent years “Hefner has continued to live the good life and make sure everyone knows it”.
It continues: “Hefner remains in the limelight, showing up at media events and at the Playboy mansion —which is owned by Playboy and leased to Hefner — with his girlfriends by his side.”
The lawsuit seeks punitive damages because Hefner has "busty models, luxury home and celebrity profile." Frankly, in my largely uninformed opinion, Brown's whole effort seems to be based on envy and sour grapes.
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