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Hugh Hefner Accused of Screwing Playboy

2/8/2010 9:50 PM PST BY TMZ STAFF

Hugh HefnerHugh Hefner has been sued for living the good life and refusing to give it up for the sake of his company.

We've obtained a class action lawsuit filed by a Playboy shareholder who claims the company is falling apart and Hugh has intentionally sabotaged two potential deals in the last 6 months to sell the company at a decent price.

In the lawsuit, an investment company that analyzed Playboy's business sent a note stating "we think the wildcard here is Hugh Hefner." The note continues, "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 suit goes on ... "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 $36 a share. Today Playboy closed at $3.14. The magazine sells for $5.99 ... because of the articles.

The plaintiffs say Hefner runs roughshod over the shareholders and they want unspecified damages.

93 COMMENTS

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Previous 15 Comments | 1 | 2 | 3 | 4 | 5
61.

SATURDAY NIGHT LIVE    

For all those who have money invested in an Old Fossil Belowme. You want to make profit off an old and disgusting bastage fart who needs Viagra just to get up in the morning.
I hope you lose all of your investment and that Old fart spends it on hookers you only jerk to.
The time for you to realize the easy life is gone. Stop wasting your money on old and outdated fossils like this aholes

1717 days ago
62.

Sandy    

HEFF needs to squash those Aholes! It is HIS company, I dont care what anyone says or does, he started it and these ppl are jealous as usual. As soon as someone is successful, everyone tries to bring them down. Having met this old geezer a few times, I would never bang him and the girls that do, atleast they can say to their grandchildren one day that they banged that old man lol
badge of honor LMAO
Anyone who has anything bad to say about Heff you need to shut your mouth because you dont know him and if you do, you would know that even though he bangs 18 yr olds, he treats them with respect and to be truthful, they wanna bang him more than he wants to bang them. Dont hate ppl who have worked their butts off trying to make something out of their life. I admire him, I wish I was business savy like him, amazing!

1717 days ago
63.

moveover    

Hey! Hef took all the risks and founded the magazine back in the 50's against all odds before it was acceptable. So, he deserves to finish things out HIS way without a bunch of wet-behind-the-ears 20 somethings at TMZ second guessing him. Have fun Hef ... enjoy your golden years!

1717 days ago
64.

kromen    

@ #66, At leasy he has a reason to get it up. Who do you get it up for? Oops, there isn't anyone next to you, is there?

1717 days ago
65.

don    

the Playboy concept is as worn out as Hugh's old bathrobe....

1717 days ago
66.

Maxxx    

This is all crap, I had Yahoo stock in 1999 at some where around $108 a share and today it is $15 a share... Get over it.... Maybe I can sue Yahoo.... And as far as Hefner, You go boy... I would not give it up either if I was him, it is all he has known for the past 50 years, and how great it has been... You should all put away you high and mighty and get a life.....

1717 days ago
67.

Grammar nazi    

All the girls over the years who've had plastic surgery to please him and he never once thought it would be a good idea to fix that fugly hook-schnoz of his??!

1716 days ago
68.

Mark ONeill    

Please send me a copy of the lawsuit or a phone # to the lawyers. I'm a shareholder and I agree.

1716 days ago
69.

Truthbtrue    

His publicists probably TELL him to "... be in the limelight, showing up at media events and at the Playboy mansion ... with his girlfriends by his side." - because thats what sells.

Further, he probably realises what a ruthless business he has been in (at the time he probably thought, selling temptuous sex was a good idea to make money in a capatilistic economy). At 81 his conscience is catching up with him, and as his death approaches he wants to make it 'right'... so he sabotages the business into the ground, ending the moral indecency that causes conflict around the world.

And now the media conglomerates, corporates and major shareholders catch wind of this, and so they release an article bad mouthing Hugh for everything that they, ultimately made him do, for the sake of the greenback. What happens? Consumers believe it, just as they always had.

...sad really. Let Hugh run it into the ground I say. End the madness.

1716 days ago
70.

Anthony    

Hahah!! YES!! Go Hef!!! If I was 81 something I'd do the same.

1716 days ago
71.

bsmlgt    

He created it, but it is a public co. now. The stockholders own it, unless he still "controls" at least 51%.

1716 days ago
72.

Lisa    

I like play boy but y do have to be all up in his business. It has done a lot of good for women.I think that its his company and he does as he sees fit and if he doesnt want to sale it then done sue him its his and he earned ever bit of it. Ure just jealous a old man has all of what you dont got and caant get let it go....!!!!!!!!!!!!!!!!!!!!!!!!!!!!

1715 days ago
73.

Maria    

He worked his entire life for Playboy, I think he deserves to enjoy the way he wants to... Give him a break, he's 81!

1710 days ago
74.

Aya Reiko    

I'll side with the shareholders here.

Since 2000, the company has been systematically run into the ground, primarily by failing to adapt to the new media (and it is something they have yet to do). The shareholders have every right to be pissed at the half-assed handling of the company since it's their money invested into the company.

1673 days ago
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