New Suit Begs Hef To Put Business Above Blondes

Law360, New York (February 9, 2010, 3:51 PM EST) -- A new shareholder class action in California accuses Hugh Hefner, the bon vivant founder and face of the Playboy empire, of putting his extravagant lifestyle ahead of the best interests of his company when he purportedly rebuffed two recent acquisition attempts.

The complaint, filed Monday by lead plaintiff David Brown in the Los Angeles County Superior Court, claims Hefner breached his fiduciary duties to minority shareholders by making decisions that lessened the value of their stock. It also accuses him of abuse of control.

Brown brings...
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