Another Billion Dollar Lawsuit for iHeartMedia
An investor that claiming he is owed $1 BILLION dollars has filed suit of the struggling and bankrupt iHeartCommunications Inc. The lawsuit was filed Monday claiming alleged failure to seek payment on a $1 billion debt. The investor claims he was "mislead on many occasions" while dealing with iHeartMedia executives.
HeartMedia, has filed for Chapter 11 bankruptcy to shed billions of debt it has carried for more than a decade. The San Antonio-based company, which has more than 850 radio stations according to USA Today.