"I am trying to retrieve my reputation as an honest man," Black was quoted as saying by Canadian Broadcasting Corp.
He said he had been "horribly defamed and in fact characterized and stigmatized as an embezzler."
Black wants to sell his stake in media company Hollinger International Inc., but other members of the Hollinger board oppose him. At stake are the company's newspaper holdings -- the Chicago Sun-Times, the Daily Telegraph in London and the Jerusalem Post.
Ray Liotta sues skin care company over use of likeness
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