Read More ]"/> Hugh Hefner, 83, was hit with a lawsuit claiming he knocked back potential buyers of his company in order to upkeep a heady lifestyle.
The Playboy magnate who is the main shareholder and founder of the Chicago-based Playboy Enterprises is being sued by company investor David Brown. Brown in a class action filed in Los Angeles cites a decision by Iconix Brand Group Inc. to break off purchase discussions with Playboy. Iconix, based in New York, allegedly decided the deal would be too complicated to carry out, according to sources.Business Week reports Brown’s lawsuit claims Hefner also rejected an offer from San Francisco-based Golden Gate Capital Corp. Brown’s filing stated: “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, of Los Angeles, also said: “In its 1999 heyday, Playboy traded as high as $36 per share. Today, the price of a Playboy magazine is far higher than the price of a share of Playboy common stock.”TMZ, meanwhile, today reported it obtained legal documents that represent the finalisation of the magnate’s divorce from Kimberly Hefner official on March 11 with sources citing a confidential property settlement. The couple married in 1989 and have two adult sons.source: Splash News
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