Hollinger looting lawsuit against former CEO Conrad Black to proceed

[JURIST] A US District Court judge ruled Monday that a Hollinger International [corporate website] lawsuit over a looting of $425 million that allegedly took place under the watch of former CEO Conrad Black [CBC profile] and his former deputy could proceed. Hollinger, which owns the Chicago Sun-Times among its many media holdings [Columbia Journalism Review report], maintains that Black diverted funds for his own gain, but Black continues to dispute the charges, and has countersued for libel [JURIST report]. Hollinger has issued a statement on Judge Blanche M. Manning's ruling. The 2004 report [text] in which Hollinger forwarded its allegations to the SEC and Judge Manning is also available. AFP has more.

 

About Paper Chase

Paper Chase is JURIST's real-time legal news service, powered by a team of 30 law student reporters and editors led by law professor Bernard Hibbitts at the University of Pittsburgh School of Law. As an educational service, Paper Chase is dedicated to presenting important legal news and materials rapidly, objectively and intelligibly in an accessible format.

© Copyright JURIST Legal News and Research Services, Inc., 2013.