http://espn.go.com/los-angeles/nba/story/_/id/11249995/donald-sterling-sues-nba-wife-shelly-sterling-adam-silver-lac-basketball-club-damageshe also claims hes the owner again since he revoked the trust.
terling argues he is the sole owner and shareholder of LAC Basketball Club, a franchise and private corporation that manages and runs the Clippers.
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Donald Sterling filed a damages suit versus the NBA, commissioner Adam Silver, his wife Shelly Sterling, and the LA Clippers Basketball Club, alleging they violated corporate law in trying to sell the team to ex-Microsoft CEO Steve Ballmer. PDF
He transferred those shares into the Sterling Family Trust in 1998, but when Sterling revoked that trust June 9, the shares of the corporation reverted back to his name, and his wife had no authority to sell them.
"The new lawsuit states the seller of the team is not Donald and it's not Shelly -- the seller of the team is corporation that owns the team, and that's LAC Basketball Club Inc.," Donald Sterling attorney Bobby Samini said Tuesday. "When Donald bought the team, the shares of the corporation are only in Donald's name. They were only issued to Donald, so Donald owns the shares of the corporation. He's the sole shareholder. He put the shares up into the trust in 1989, and when we revoked the trust, the shares go back down to him."
Topic: Sterling files new lawsuit vs NBA, Clippers, wife. (Read 720 times)