Hefner Seeks To Nix Suit Over Playboy Going Private

Law360, Wilmington (July 22, 2011, 3:45 PM EDT) -- Playboy Enterprises Inc. founder Hugh Hefner claimed in documents unsealed Wednesday in Delaware state court that he didn't harm shareholders when he took the company private in a $206 million deal, seeking dismissal of a class action alleging otherwise.

Shareholder Charles A. Germerhausen sued Hefner and Playboy’s board — along with the private equity firm that financed the leveraged buyout, Rizvi Traverse Management LLC — in July 2010, saying the $5.50 per-share deal gave minority investors the shaft and should be blocked.

The deal eventually went...
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