Private to Pay Off Litigating Shareholders' Legal Fees

BARCELONA — Private Media Group plans on paying off the legal fees of shareholders who sued the company after alleging claims of embezzlement and mismanagement by its former front office.

The long-running legal saga waged by Consipio Holding and other shareholders was ordered dismissed last week in Nevada by Clark County Judge Elizabeth Gonzalez.

Private Media Group this evening filed papers with federal regulators that assert the adult entertainment company will reimburse Consipio Holding BV and Tisbury Services Inc. shareholders for their attorneys fees and costs incurred "in an amount to be agreed between the plaintiffs and the company and approved by the company’s board of directors."

The legal fee amount, which wasn't disclosed, is significant because the case dragged on 19 months, involved claims and counterclaims and included three appeals to the Nevada Supreme Court. 

“The Nevada action was a shareholder derivative suit brought on behalf of Private by its shareholders against third parties, namely management assisted by certain directors," Private CEO Charles Prast told XBIZ. "The suit contained multiple allegations which are all of public record. It is standard practice for the legal bills of the party who beings such an action successfully to be met. This is the case here.We are glad to have this action behind us and resolved for the benefit of all shareholders.”

Private Media Group, a public company trading over the counter, had been embroiled in the suit pitting shareholders — led by Consipio Holding BV, Tisbury Services Inc., shareholder Claudio Gianascio and shareholder, former CEO and now board director Ilan Bunimovitz — against front-office management, including Berth Milton, who was eventually ousted as CEO.

The plaintiffs claimed the company had been rocked by embezzlement, among other charges, from moves made by Milton and former directors.

In the end, the company changed its front office and board of directors.

 Prast in March took the top slot held by Private Media Group's Sureflix division's president, Eric Johnson, who had been carrying out the responsibilities of CEO and CFO during the long and contentious shareholder and creditor-rights battle. Johnson had been appointed as receiver by a Nevada court last year.

In January, Private Media Group announced the election of the company’s new board of directors to include Johnson, Bunimovitz, Anna Maksimova, Michael Martinez, James McCormick and Prast, who now acts as the company’s president, CEO and interim CFO.

Related:  

Copyright © 2026 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

Yhivi Fronts New Brazzers Release

Yhivi stars with multi-XMA winners Mick Blue and Isiah Maxwell in a new release from Brazzers, titled "Immoral Yhivi."

Vixen Media Group Extends Exclusive Contract With Jason Luv

Vixen Media Group (VMG) has renewed its exclusive contract with Jason Luv.

Brazzers Premieres Limited Series 'Sleazy Rider'

Brazzers has released the first installment of its new limited series, "Sleazy Rider."

Sarah Arabic Stars in Latest From Brazzers

Sarah Arabic stars with Will Pounder in the latest release from Brazzers, titled “Shirtcocking for the Win.”

Evil Angel Debuts Pat Myne's 'Who Does It Better?'

Evil Angel has released director Pat Myne’s new title, “Who Does It Better?”

Virginia Becomes Latest State to Weigh 'Porn Tax'

The Virginia House of Delegates is considering a bill that would impose a 10% tax on the gross receipts of adult websites doing business in that state.

Mandii Rose Makes Her Evil Angel Debut

Mandii Rose has made her debut for Evil Angel alongside multi-XMAs winner Mick Blue.

Elizabeth Skylar Launches Production Banner on VRPorn.com

Elizabeth Skylar has launched her own virtual reality production banner on VRPorn.com.

MsSexySaigon Returns to TeamSkeet

MsSexySaigon stars in the latest scene from TeamSkeet’s “Freeuse MILF” series.

Penny Barber, Rissa May Star in Latest From MILFY

Penny Barber and Rissa May star with Dan Damage in the latest release from Vixen Media Group studio imprint MILFY.

Show More