Posted on 08/15/2014 9:29:54 AM PDT by don-o
Former Vice President Al Gore and business partner Joel Hyatt have filed a lawsuit against Al Jazeera on charges of fraud and material breaches in their acquisition of Current Media, POLITICO has learned.
Gore and Hyatt, the co-founders of Current Media, say that Al Jazeera has unlawfully refused to turn over tens of millions of dollars currently located in an escrow account. That money is owed to Current Media shareholders per the terms of the $500-million merger agreement made in January 2013, the plaintiffs say.
The lawsuit was filed Friday morning by David Boies, attorney for Al Gore and Joel Hyatt, in the Delaware Court of Chancery. (Boies also represented Gore in the 2000 Florida election recount battle against George W. Bush.)
"Al Jazeera America wants to give itself a discount on the purchase price that was agreed to nearly two years ago," Boies said in a statement. "We are asking the Court to order Al Jazeera America to stop wrongfully withholding the escrow funds that belong to Current's former shareholders."
The complaint has been filed under seal at the request of Al Jazeera, though Gore and Hyatt have filed a motion seeking to unseal it.
(Excerpt) Read more at politico.com ...
“Former U.S. vice president Al Gore is being represented by David Boies, the attorney who memorably represented him in the 2000 battle over a Florida election recount.”
Hopefully, Boies will achieve the same result.
From wiki;
“Joel Z. Hyatt (born Joel Hyatt Zylberberg; 1950) is a prominent businessman and former attorney and American politician of the Democratic party. He is the founder of Hyatt Legal Services, and was featured in the law firm’s television commercials speaking the slogan, “I’m Joel Hyatt and you have my word on it.” Hyatt was also the co-founder of Current TV.
Life and career[edit]
Hyatt graduated from Dartmouth College and Yale Law School. He briefly practiced law as an associate at Paul, Weiss, Rifkind, Wharton & Garrison.
Hyatt co-founded Hyatt Legal Services in 1977 as a low-cost legal service and later founded Hyatt Legal Plans, which became the country’s largest provider of employer-sponsored group legal services. Hyatt Legal Plans was acquired by MetLife in 1997.
Hyatt was a founding member of the U.S. Senate Democratic Leadership Circle and was a member of that group from 1981 to 1986. He was the Democratic National Committee’s assistant treasurer from 1981 to 1983.
He is the son-in-law of former U.S. Sen. Howard Metzenbaum and in 1994, when Metzenbaum decided to retire from the Senate, Hyatt ran to replace him. Hyatt won the Democratic nomination, but lost to then Ohio Lt. Gov. R. Michael DeWine in the general election.
Hyatt was appointed to the California Public Utilities Commission in June 1999, by Governor Gray Davis. He served six months of a six-year term, resigning in December 1999.
Hyatt served as National Finance Chair for the Democratic party in 2000, and is a business partner of former U.S. Vice President Al Gore In 2004, Hyatt and Gore purchased Newsworld International, a cable news channel, programmed by the Canadian Broadcasting Corporation, which aired news programming from around the world. On August 1, 2005, Gore and Hyatt relaunched the network as Current TV, a young adult-programmed news and information service which pioneered the concept of user generated content on cable TV.[1] Hyatt and Gore later sold the channel to Al Jazeera Media Network on January 2nd, 2013 for a reported 500 million dollars.
Hyatt taught entrepreneurship at Stanford University Graduate School of Business from 1998 to 2003. He is a member of the board of trustees of Morehouse College and of The Brookings Institution. Hyatt was elected to the board of directors of Hewlett-Packard Company in May 2007.
In 1990, Hyatt Legal Services paid a $157,000 judgment for illegally firing an attorney in their Philadelphia offices, Clarence B. Cain, because of his AIDS diagnosis.[2] This case became the basis for the 1993 film Philadelphia.”
What a hoot!!!
That $$$ will stay safe in an Iranian bank.
“Don’t try to con a con-man”
I’ve had a rough week. This makes me happy!
I don’t know which one to cheer for.
Can they both lose?
Aw. Poor Al.
(I love news like this. Completely brightened my day!)
Aw. Poor Al.
(I love news like this. Completely brightened my day!)
Sorry Al, those funds are for ISIS, they want to global warm all with nukes..
lol
LOL.
I just thoroughly love that photo.
Hey Al (douchbag) time to google “taqiyah”.
This is funny, right here! :)
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