PLAYBOY mogul Hugh Hefner is being sued for refusing to sell his company because he doesnt want to give up “the parade of busty blondes”, TMZ reported today.
In the lawsuit a Playboy shareholder claims that the adult entertainment business is falling apart and Hefner has intentionally sabotaged two potential deals in the past six months to sell at a decent price.
An investment company that analyzed Playboy’s business sent a note stating “we think the wildcard here is Hugh Hefner”.
“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?,” the note said.
“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.”
The suit laments, “Today, the price of a Playboy magazine is far higher than the price of Playboy common stock.”
In 1999, the stock sold for US$36 a share.
Today, Playboy closed at $US3.14. The magazine sells for $US5.99.
The plaintiffs say Hefner dictates decisions over the shareholders and they want unspecified damages.
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