Redstone Sued by Midway Games Creditors

May 14, 2009  •  Post A Comment

A lawsuit charges that Sumner Redstone sold his 87% stake in Midway Games for only $100,000 so that he could register a $700 million tax loss and collect “a massive tax refund,” the Los Angeles Times reports. The suit, filed in Delaware by Midway creditors calls the sale a “fraudulent transfer,” the paper says.
—Jon Lafayette


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