AIG Under Lawsuit By Ex-NBA Team Ownership Group

Forbes billionaire Bruce Levenson, the former owner of the Atlanta Hawks, is leading a lawsuit against AIG. The lawsuit was filed on September 13, 2015. It alleges that the insurance company, AIG, did not pay the Hawks ownership group for losses that it suffered from the departure of team manager Danny Ferry. His employment was suddenly terminated while he had a multi million and multi year contract with the group.

The lawsuit is being filed at Fulton County Supreme Court. The plaintiff is the Atlanta Hawks Basketball and Entertainment LLC, led by majority stake holder Bruce Levenson. AIG who was the insurance provider of the Atlanta Hawks Basketball and Entertainment is named the defendant in the lawsuit. Barnes & Thornburg LLP is the law firm handling the case on behalf of the former Hawks owner group.

According to public documents, the ownership consortium group alleges that AIG had failed to provide compensation for employee termination that it believed was covered under the policy the group had with AIG. Levenson and other members of the group believe that compensation should be provided because Ferry’s termination falls under wrongful termination.

So far, AIG has not acknowledged receiving a claim filed by the Atlanta Hawks Basketball and Entertainment LLC. The claim was filed on April 2nd and sent to AIG. The lawsuit states that AIG has not paid any compensation so far and refuses to take responsibility for claims that fall within its own coverage policy.

The leader of the former Hawks ownership consortium is entrepreneur Bruce Levenson. Mr. Levenson created the information analysis company called United Communications Group with co-founder and friend Ed Peskowitz. UCG provides real time data, projections and data analysis to key sectors of the economy such as healthcare, energy and banking. Mr. Levenson is also a philanthropist that supports Jewish charities. Bruce helped fund the National Holocaust Memorial Museum and supports Jewish organizations such as Birthrate Israel among others.

This entry was posted in NBA Team Ownership. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *