Lawsuits are piling up at Newsweek, as the principal players at the nearly 90-year-old media outlet trade accusations of wrongdoing and its former parent company tries to wrest back control
Lawsuits from key players include allegations of falsified records, stolen trade secrets and reputational damage
Newsweek has endured years of turbulence, changing hands several times, but its traffic has jumped in the past three years.July 29, 2022 8:00 am ET . In a suit that was unsealed this week, Johnathan Davis, one of the owners of Newsweek’s current parent, NW Media Holdings Corp., alleged that co-owner Dev Pragad secured unauthorized increases in compensation and directed meeting notes to be falsified. That comes after Mr. Pragad earlier this month sued Mr. Davis for alleged breaches of fiduciary duties. Each complainant is seeking damages and to remove the other from the board.
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