The former Atlanta Hawks Basketball and Entertainment, where Bruce Levenson used to control some shares, is said to have filed a case against New Hampshire Insurance Company for not honoring the terms of an agreement that they made. The deal stated that the insurance company should settle the claims made by the firm’s former general manager Danny Ferry.
Bruce Levenson is a businessman based in America who initially owned NBA team. He is said to have been one of the principal owners of Atlanta Hawks LLC that was previously named Atlanta Spirit LLC, which controls the Atlanta Hawks basketball team and Philips Arena. Mr. Levenson has also held a position of head of the board of governors of NBA since the year 2004. He also founded United Communication Group, and he is currently a member of the board of directors of an IT industry media company, which is known as Tech Target. PR Newswire describes him as a philanthropist. He has supported projects like the Hoop Dreams Foundation, Community Foundation of Washington, U.S. Holocaust Museum, the SEED Foundation and various Jewish causes.
The case was brought up on the 13th day of September at the Superior Court of Fulton Country. The company clearly stated the reasons for bringing up the case as the insurance company not entirely covering their employees against losses associated with employment such as ending employee’s working contract and any problems the employee faces while in the course of duty.
Hawks was later sold after Ferry and Hawks’ ownership had a takeover agreement on 22 June 2015 to Tony Ressler who also leads Ares Management. Hawks was valued by Forbes to go for $ 425 million, but since Clippers and Bucks was sold it caused the market to improve. The company was bought at roughly $850 million. However, the present day Hawks ownership group headed by Tony Ressler isn’t involved in the lawsuit because the parties that were participating in the lawsuit have no relationship with the present day Hawks.