Madison Square Garden has filed a lawsuit claiming that the SportsBusiness Journal interfered in confidential relationships between MSG and prospective lenders interested in financing renovations to the famed arena, according to a story on the site of the American City Business Journals publication.
“The lawsuit claims that Kaplan, while working on a story that appeared in the magazine’s Nov. 16-22, 2009, issue, ‘improperly induced and encouraged one or more unknown employees of major financial institutions … to breach valid written confidentiality agreements’ by providing him ‘with highly confidential, non-public financial information and projections related to [Madison Square Garden]’ and its planned renovation of the arena. The lawsuit says the news came at a ‘sensitive time,’ when MSG is in the process of being spun off from its parent, Cablevision, as a new public company.
“SportsBusiness Journal Publisher Richard Weiss said, ‘There is no merit to MSG’s claim and SBJ expects the court to dismiss the suit promptly.'”
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