Hugh Hefner Being Sued

February 9, 2010 By:
Hugh Hefner Being Sued

Mr. Playboy himself is being sued! Hugh Hefner has been slapped with a lawsuit by a Playboy shareholder who claims Hef is allowing the company to fall apart at the seams.

According to legal papers obtained by TMZ, Hugh has declined two offers in the last six months to sell the company at a reasonable price.

In the lawsuit, an investment company that analyzed Playboy's business sent a note stating "we think the wildcard here is Hugh Hefner. 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?"

It continues, "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.

We agree that it’s probably time for Hef to hang it up! He had a really great run!