Affiliates of Alden Global Capital LLC, one of the largest US newspaper owners, are trying to push out a former real estate manager for a pittance, according to an unsealed lawsuit.
Joseph Miller is suing multiple entities spun off from the investment firm to consolidate the buildings and other property assets it gained in connection with its spree of print media acquisitions. One of them is trying to repurchase his 10% equity for $3.5 million, “a fraction of the appropriate price,” and another is proposing to pay just $2 for his 15% stake, his suit says.
The filing kicks ...
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