By: (AP) Former newspaper publisher Conrad Black sued Hollinger International Inc. Monday in federal court in a dispute over millions of dollars in stock options.
The lawsuit is the latest salvo in an ongoing legal battle between Black and his newspaper empire.
Black alleges Hollinger International has refused to honor his contract rights by withholding more than 1.3 million stock options.
He claims the company has not given him stock certificates for 145,000 shares he purchased in February and that the company is keeping the more than $1.6 million he paid for them. He also accuses Chicago-based Hollinger International of not allowing him to purchase more than 1.2 million options he said he is entitled to receive.
The lawsuit seeks damages related to the stocks' worth.
Black spokesman Jim Badenhausen declined to comment Monday evening. Hollinger International spokeswoman Molly Morse also declined to comment, saying she had not seen the lawsuit.
Black resigned in November as CEO of Hollinger International and the company removed him as chairman in January. In March, he was stripped of his chairman post of the Telegraph Group, which includes The Daily Telegraph, The Sunday Telegraph and The Spectator magazine.
Black's Toronto-based Hollinger Inc. owns 30% of the equity and 72% of the voting stock of Hollinger International, which also publishes the Chicago Sun-Times and Jerusalem Post.
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