Kroenke faces another lawsuit from ex-business partner

Stan Kroenke is facing another lawsuit from his ex-business partner Michael Staenberg.

In the suit filed this week, Staenberg alleges Kroenke refused to take out a needed loan for a development in High Ridge. The development has a Wal-Mart store that opened in 2012. Staenberg claims proceeds of the loan would have gone to him. He's seeking $3.75 million through the suit, as well as punitive damages of no less than $5 million.

The two men created THF Realty and developed commercial real estate around the region.

Late last year, Staenberg filed a suit against Kroenke saying he was wrongly excluded from plans to buy 200 acres in Maryland Heights for a for a mixed-use project.

Read more from the St. Louis Business Journal.