Private's Annual Meeting Slated for Aug. 16

LAS VEGAS —  A Nevada judge has ordered that Private Media Group hold its annual meeting on Aug. 16, when shareholders will vote for directors of the company.

Clark County Judge Elizabeth Gonzalez ordered a new shareholders vote after an earlier one had been invalidated by the court.

She earlier ruled that 3.95 million shares were "concealed" by CEO Berth Milton, who had been required to provide them to Consipio Holding BV after Private defaulted on its debt to Consipio.

Gonzalez, in her order, said that the annual meeting will be held at Private’s Barcelona  headquarters with a live video-conference connection to the Las Vegas offices of plaintiffs’ counsel — Lionel Sawyer and Collins.

The order is a result of litigation between former CEO Ilan Bunimovitz and Private.

In the suit, Bunimovitz claims he was terminated as CEO for demanding a probe of Milton’s alleged "self-dealing" transactions. Bunimovitz's lawsuit, which included Private creditor and co-plaintiff Consipio, alleges mismanagement of the company’s business by Private’s three independent directors and current CEO Milton.

Gonzalez in her earlier ruling said that Consipio claims to be owed $5.5 million by Private and that this debt is secured by 5.6 million shares of Private stock, about  27 percent of the shares of Private’s outstanding shares.

But Consipio was only allowed to vote 1.65 million of those shares, and its directors’ slate lost by less than 600,000 shares, Gonzalez wrote in that ruling.

In related news, Private on Monday said that on July 1 the current board of directors voted to appoint Lars Ryd to fill a vacancy on the board for Bernt Akander, who resigned. Ryd will serve until the company’s annual meeting next month.

Related:  

Copyright © 2025 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

Roxie Rae Relaunches Site Through XSiteAbility

Roxie Rae has relaunched her site through XSiteAbility.

Nicole Nixon Stars in Latest From Immoral

Nicole Nixon stars with Matt Bird, Dean Van Damme, and "Porno Dan" Leal in a new three-part release from Immoral Productions.

Kiki Cali Toplines 'Pleasure Vixens 4' From BAM Visions

Kiki Cali headlines the fourth volume of "Pleasure Vixens," co-directed by multi-XMAs winner Mick Blue and Maestro Claudio, aka BAM Visions, from Evil Angel.

Brianna Coppage Makes Her WIFEY Debut

Creator Brianna Coppage stars with her husband Phillip and Jax Slayher in the latest release from Vixen Media Group studio imprint WIFEY.

Isa Bella, Selena Ivy Topline 'Lesbian Sex 28'

Isa Bella and Selena Ivy headline the latest release from Girlfriends Films, titled “Lesbian Sex 28.”

Catherine Knight Stars in Latest From Brazzers

Catherine Knight stars in the latest release from Brazzers, titled "GRWM (To Fuck)."

Federal Appeals Court Vacates FTC 'Click to Cancel' Rule Pending Review

The U.S. Court of Appeals for the 8th Circuit on Tuesday vacated the Federal Trade Commission’s “click-to-cancel” rule aimed at making it easier for consumers to cancel online subscriptions, pending further review.

Elegant Angel Premieres Nicole Kitt Showcase 'Cats Eye'

Nicole Kitt gets the spotlight in a new four-part showcase release from Elegant Angel.

Private Releases 'The Love Hotel 2'

Private has released “The Love Hotel 2,” directed by Dave Menich.

Show More