Billionaire Soon-Shiong Sued Over Offshore Mineral Mining Deals

Biotech billionaire Patrick Soon-Shiong maneuvered to “illegally seize” a Bahamas-based mineral mining operation by threatening to starve the venture of funds unless its founder agreed to be sidelined, according to a lawsuit.

Anthony Myers sued Soon-Shiong’s affiliates Thursday through an investment vehicle, saying the Los Angeles Times publisher—who also owns a piece of the NBA’s LA Lakers—"spent years orchestrating” a plan to marginalize his role at Calcean Minerals and Materials LLC, which extracts oolitic aragonite from sand. The mineral, harvested in the Bahamas, is a pure form of calcium carbonite used in commercial products such as glass and artificial turf. ...