Lawsuit Filed by Atlanta Hawks Basketball and Entertainment LLC against AIG Insurance

A lawsuit has been filed by the Atlanta Hawks Basketball and Entertainment LLC against AIG insurance company for failure to cover losses that the AHBE states they incurred during their separation from the Atlanta Hawks Franchise. Bruce Levenson, who headed the organization, and the AHBE were the former owners of the Atlanta Hawks before a formal buyout agreement (http://www.forbes.com/sites/mikeozanian/2015/04/23/bankers-for-levenson-oversold-atlanta-hawks-by-27/) was reached between them and former General Manager Danny Ferry in June of 2015. Shortly thereafter, the franchise was sold to Tony Ressler. The lawsuit was filed at the Superior Court in Fulton County on September 13. Bruce Levenson and the AHBE are being represented by Barnes & Thurnburg LLP Law Firm during the lawsuit. The present Hawks ownership has decided to remain out of the conversation since both involved parties are no longer related to the franchise.

Levenson began his career by writing for the Washington Star. His journalism career continued onto Observer Publishing where he reported on energy information. This position lent itself greatly to Levenson’s next business venture. Alongside his partner, Ed Peskowitz, Levenson co-founded United Communications Group. UCG began out of a small storage room producing a newsletter about the oil industry. The company grew into a highly-profitable information company focusing on data analysis and news for a large number of fields such as healthcare and technology.

According to Time magazine, Levenson is also highly active in philanthropy. He once held the position of President for the I Have A Dream Foundation in Washington. He has also always been heavily involved in the Hoop Dreams Foundation and served as board member of the Community Foundation of Washington. Levenson was also a strong benefactor of the School of Philanthropy at the University of Maryland. Levenson himself graduated from Washinton University as an under-grad and then continued his education at the Law School of America University.

Source: Wikipedia.org