Forbes family sues Chinese investors over magazine deal

Posted online November 3, 2015 | 12:35 pm

The family behind Forbes magazine is suing the majority shareholders of its media business - Chinese investors who acquired a stake last year - for allegedly failing to pay up.

The suit alleges Hong Kong-based Integrated Whale Media Investments has failed to honor its contractual obligations. It further claims the company has defaulted on payments.

The company borrowed money from the Forbes family to finance its purchase.

Read more from CNNMoney.

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