A lawsuit is afoot at the Playboy mansion.
An investor is suing Hugh Hefner, the head honcho and majority shareholder of Playboy Enterprises Inc.
David Brown is representing a group of investors who filed yesterday in a Los Angeles court. They claimed Hefner turned down acquisition suitors so he could keep living his luxurious lifestyle, according to Bloomberg.
Iconix Brand Group Inc., based in New York, in December decided to break off purchase discussions with the company after determining it would be too complicated to divest, shut down or find partners for Playboy units it didn’t want to operate, according to two people familiar with the matter. Hefner also rejected an offer from San Francisco-based Golden Gate Capital Corp., Brown said.
“According to published reports, one of the main reasons why these deals failed was Hefner’s insistence on maintaining the lifestyle to which he has grown accustomed,” Brown wrote.
A spokeswoman for Playboy told Bloomberg they had not been served any complaints yet, so she couldn’t comment.
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