The New Hampshire insurance company has been sued by Atlanta Hawks LLC for an alleged breach of contract. This breach is said to have taken place against the previous owner of the company, Dan Ferry. AHBE has joined Bruce Levenson, who is the former owner of the NBA Franchise in the lawsuit. The current management of the company is however not part of the ongoing legal issue.
AHBE claims it had been insured for losses that result from employment practices under a particular policy they had taken out. According to ABHE, the policy stated that cover would be offered for issues such as employment malpractices such as wrongful termination and discriminations in the hiring practices and other related malpractices. The people in charge of hawks at the moment stated that they knew about the lawsuit, but the case didn’t affect the running of the case in any way. They did not offer any more information on the important details of the case.
About Bruce Levenson
Between 2011 and 2015, Atlanta Hawks was under the ownership of Bruce Levenson. After the sale in 2015, the current principal, Tony Ressler took over. Bruce, unlike the many other successful businessmen, was not born with the silver spoon in his mouth. He started his school in Washington DC and proceeded to attend the Washington College and the American University Law School. It was during college that he and his friend, Ed Peskowitz started UGC, http://www.ucg.com/AboutUs/Ownership.aspx, a communications company.
They first housed the company in their apartment. After many years and varying degrees of success, he branched out and started investing in other sectors. This is why he bought the Hawks Company. Four years later, he made a deal and according to Forbes, sold it at a huge profit, netting more that 700 million US dollars. Besides the business deals, Bruce is a family man and a huge philanthropist.