Private Shareholder Suit Continues in Las Vegas

LAS VEGAS — A Las Vegas judge will hear tomorrow from Private Media Group's receiver in his bid to join with litigating shareholders in a motion on a number of key issues.

Private has been embroiled in a long-running shareholders suit that pits shareholders — led by Consipio Holding BV, Tisbury Services Inc., shareholder Claudio Gianascio and shareholder and former CEO Ilan Bunimovitz — against current front-office management.

Clark County Judge Elizabeth Gonzalez will decide whether to allow the receiver's request for joinder on:

  • The motion of Consipio Holding to confirm the right of shareholders to nominate an alternative slate of directors;
  • To reconfirm Consipio's voting rights to 5.6 million shares; and,
  • To confirm the arrangements for the 2011 annual shareholder meeting.

Gonzalez also will hear a motion to speed up those legal actions.

In August, Gonzalez entered an order appointing Eric Johnson, a Private director and CEO of Private division Sureflix, the receiver for the company.   

The receivership is the result of a judge's order in the shareholder suit. 

The plaintiffs claim the company has been rocked by embezzlement, among other charges, from moves by CEO Berth Milton and former directors.

The company's stock, now on the Pink Sheets, has dipped substantially in the past year. A year ago, the stock traded at about $1.60 a share.

Today, Private trades at about 24 cents a share.

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

Missouri AG Announces Age Verification Rule to Take Effect Nov. 30

Newly appointed Missouri Attorney General Catherine Hanaway announced Friday that the state's recently approved age verification regulation for adult websites will go into effect on Nov. 30.

Mag Numb Leads Latest From PlantsVsCunts

Mag Numb stars in the latest scene from Hentaied studio brand Plants Vs. Cunts, titled “The Book of Curses.”

Aylo, Woodhull Freedom Foundation to Host 'Online Censorship' Event

Aylo and Woodhull Freedom Foundation will co-host a virtual panel addressing online censorship on Sept. 30.

Connie Perignon Makes Her Debut for Parasited

Connie Perignon has made her Parasited debut in “A Lesson She Will Payback,” directed by El Pacho.

Aubrey Kate Featured in Latest From Kink.com

Aubrey Kate stars with Sage Roux in the new scene from Kink.com, titled “A Hole for the Prison Guard.”

Severe Sex Films Relaunches Site Through YourPaysitePartner

Severe Sex Films has relaunched its official website through YourPaysitePartner (YPP).

Judge Awards Plaintiffs Over $400K in Attorneys Fees in Derek Hay Civil Case

California Superior Court Judge Gail Killefer has awarded former clients of LA Direct Models over $400,000 in attorneys fees and court costs, to be paid by agency founder Derek Hay.

Stephanie Love, Elise London Topline 'Anal & MILFY' From LeWood

Stephanie Love and Elise London headline "Anal & MILFY," the latest release from directing duo LeWood (Francesca Le and Mark Wood) for Evil Angel.

ChickPass Rebrands as 'ChickPass Cinematic Universe'

ChickPass has announced that it has rebranded its network of sites as ChickPass Cinematic Universe.

Girthmasterr Makes His Brazzers Debut

Girthmasterr has made his Brazzers debut alongside Luna Star and multi-XMAs winner Angela White in the studio's latest release, titled "Welcumming Committee."

Show More