Three Arizona Diamondbacks minority owners are suing managing general partner Ken Kendrick after claiming they were forced to either increase or forfeit their investments, according to The Athletic's Zach Buchanan.
The plaintiffs in the lawsuit filed to the Maricopa County Superior Court on Tuesday include Alfredo Molina, chairman and CEO of Molina Fine Jewelers, former pro pitcher Jim Weber and limited liability company Carlise Investments. The group is claiming the Diamondbacks ownership group, led by Kendrick, was unlawful in its ultimatum.
According to the suit, all 22 minority owners with a stake under 1% were sent a letter on Jan.