Al Gore sues Al Jazeera for withholding money after TV channel deal
16 August 2014 00:12
Current TV founders Al Gore and Joel Hyatt filed a lawsuit on Friday against Al Jazeera, claiming the Qatar-based broadcaster owes them millions of dollars after it bought Current TV.
Al Jazeera acquired Current TV for an estimated $500 million in 2013. Gore and Hyatt are suing for fraud and numerous material breaches of the acquisition.
David Boies, the attorney representing Gore and Hyatt, said in a statement, "Al Jazeera America wants to give itself a discount on the purchase price that was agreed to nearly two years ago. We are asking the Court to order Al Jazeera America to stop wrongfully withholding the escrow funds that belong to Current's former shareholders."