Bunimovitz, 4 Investors Claim Majority Ownership of Private

LAS VEGAS — Former Private Media Group CEO Ilan Bunimovitz and four large investors have joined together, claiming that collectively, they hold more than 50 percent of the voting power of Private’s common stock.

The stockholders are Consipio Holding BV, which purports to hold 5.6 million shares of the company; Tisbury Services Ltd., which owns 2.8 million shares; Bunimovitz, who owns 1.9 million shares; and financier Claudio Gianascio.

They claim they are the majority shareholders and together hold a majority interest in Private, according to documents obtained by XBIZ.

In an amended complaint, which was filed this month at Clark County District Court in Las Vegas, the shareholders executed a written consent changing Private’s bylaws.

The major changes limit the ability of Privates’ board of directors without the approval of the shareholders to issue additional shares of capital stock or to approve related party transactions or contracts and establish the annual meeting date to be held at the Issuer’s office in San Francisco.

The complaint states that these changes to the bylaws are not expected to impede the acquisition of control of Private by any person.

Meanwhile, Private has vowed to file counterclaims against Bunimovitz, seeking monetary damages and other relief.

The move is in response to Bunimovitz’s and the investors’ claims alleging mismanagement of the company’s business by the company’s three independent directors, Johan G. Carlberg, Peter Dixinger, Bo Rodebrandt and Private’s CEO and chairman Berth Milton.

Bunimovitz and Consipio Holding weren’t immediately available for comment by post time.

Related:  

Copyright © 2024 Adnet Media. All Rights Reserved. XBIZ is a trademark of Adnet Media.
Reproduction in whole or in part in any form or medium without express written permission is prohibited.

More News

Nebraska Legislature Passes Republican's Age Verification Bill With No Votes Against It

Nebraska’s unicameral legislature has passed the state’s version of the age verification bills being sponsored around the country by anti-porn religious conservative activists.

Performers in Meta Blacklisting Lawsuit Seek to Preserve Antitrust Claims

Adult Performance Artists Guild board officers Alana Evans, Kelly Pierce and Ruby have informed a California court that, although they want to drop their lawsuit claiming that Meta conspired with OnlyFans to blacklist rival premium fan platforms’ talent, they may still have antitrust claims that they may pursue in the future.

Skylar Snow Headlines 'Infidelity 4' From Sweet Sinner

Skylar Snow toplines "Infidelity 4," the latest release from Mile High Media studio brand Sweet Sinner.

Serenity Cox Stars in 'Enjoy It' From MILFY

Serenity Cox stars with Alberto Blanco in "Enjoy It," from Vixen Media Group studio imprint MILFY.

Melissa Stratton Stars in Finale of Wicked's 'So Extra'

Melissa Stratton and Robby Apples star in the final scene from Wicked Pictures' "So Extra."

BiPhoria Drops Jim Powers' 'Saying GoodBi'

BiPhoria has released director Jim Powers' "Saying GoodBi."

FSC, Co-Plaintiffs to Ask US Supreme Court to Review Constitutionality of Texas Age Verification Law

Free Speech Coalition (FSC) and its co-plaintiffs in the challenge to Texas’ controversial age verification law have filed a petition before the United States Court of Appeals for the 5th Circuit asking to stay its recent upholding the law because they intend to appeal to the U.S. Supreme Court to review the law’s constitutionality.

Jade Venus, Kasey Kei Star in 'Trans Rave' From GenderX

Jade Venus and Kasey Kei star in "Trans Rave" from GenderX, directed by Jim Powers.

FSC Vows to Fight Florida Age Verification Law

Free Speech Coalition (FSC) issued a statement vowing to continue fighting Florida’s age verification law, which was signed by Gov. Ron DeSantis on Monday as part of a comprehensive bill targeting minors’ use of social media.

Kansas Republican Aims to Create New Bureaucracy to 'Investigate' Porn Websites

Republican state legislators succeeded Monday in moving forward Kansas’ version of the age verification bills being sponsored around the country by anti-porn religious conservative activists, despite serious concerns raised by House Democrats about the cost of establishing a new bureaucracy tasked with investigating websites for pornographic content.

Show More