New misconduct lawsuit filed against former Hollinger CEO

[JURIST] Hollinger Inc., the Canadian holding company with an interest in the newspaper publisher Hollinger International, filed a $636 million lawsuit Tuesday against former CEO Conrad Black and other former executives. Hollinger is seeking damages for Black's alleged diversion of corporate opportunities [Hollinger press release], breach of fiduciary duties and oppression and is demanding reimbursement for management fees and non-competition payments allegedly misappropriated to Black and his private firm, Ravelston. Black and Hollinger currently face civil charges filed by the US Securities and Exchange Commission [PDF complaint; JURIST report]. The SEC alleges that Black, former Hollinger president David Radler and Hollinger "engaged in a fraudulent and deceptive scheme to divert cash and assets from [parent company] Hollinger International." Black's other legal problems include a US criminal probe into his conduct [JURIST report] and a $425 million looting lawsuit filed by Hollinger International. Black is also pursuing a $1.1 billion libel suit [JURIST report] against the Hollinger International special committee that prepared a report accusing Black of looting the company [JURIST report]. Canadian Press has more on the latest lawsuit.



 

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