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TMZ Reports Hefner Sued by Playboy Shareholder

TMZ Reports Hefner Sued by Playboy Shareholder
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Feb 9, 2010 7:00 AM PST    Text size: 

HOLMBLY HILLS, Calif. — Celebrity tracker site TMZ.com reported that Hugh Hefner has been sued by a Playboy shareholder claiming the company is falling apart and Hefner has sabotaged two recent deals in the last six months so he can continue to live his lavish lifestyle.

TMZ reported that the unnamed plaintiff(s) in the suit claims that “Hefner runs roughshod over the shareholders and they want unspecified damages.”

The story also said that an investment company that analyzed Playboy's business sent a note stating, "we think the wildcard here is Hugh Hefner.” The note continued, “If you were Hugh Hefner, 81, would you give up the parade of busty blonds, the fancy mansion and the reality TV show for a payout?"

What appeared to be a promising deal went sour last December when branding company Iconix Brand Group, Inc., the parent of London Fog and Danskin, shut down talks between the two companies.

Speculation at that time was that Hefner would continue to control the magazine and remain in the mansion while the other Playboy divisions were divested, shut down or be sold to partners by Iconix. However, Bloomberg news reported that the talks shut down when Iconix decided it would be too hard to split the Playboy brand from the rest of the company.

According to TMZ, the suit goes on ... "Hefner has continued to live the good life and make sure everyone knows it. Hefner remains in the limelight, showing up at media events and at the Playboy mansion ... with his girlfriends by his side."

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