Maxim Slapped with Suit
The problems are piling up for financier Steve Rattner. Two weeks ago, the media investor and Quadrangle Capital co-founder announced plans to shut down one of the firm's hedge funds; last week, it was revealed that Rattner's Alpha Media Group, which publishes Maxim and Blender, had fallen behind on payments to the company's creditors. Now the publishing company has been hit with a lawsuit by a hospitality company that claims Alpha Media failed live up to an agreement to promote a resort in the Dominican Republic bearing the Maxim name. The company, EMI Resorts, is now seeking more $80 million in damages. The full suit is below.