Advertisement

April 9, 2008 / 10:50 AM

Huizenga accused of insider trading

Miami Dolphins owner Wayne Huizenga watches warmups prior to the game against the Atlanta Falcons at Dolphin Stadium, in Miami, Florida, on November 6, 2005. (UPI Photo/Michael Bush)

Miami Dolphins owner Wayne Huizenga watches warmups prior to the game against the Atlanta Falcons at Dolphin Stadium, in Miami, Florida, on November 6, 2005. (UPI Photo/Michael Bush) | License Photo

PALM BEACH, Fla., April 9 (UPI) -- Billionaire Wayne Huizenga and millionaire Richard Rochon have locked horns in Florida over money owed and insider trading charges, court papers say.

Huizenga sued Rochon, his former employee of 17 years, to retrieve $10 million owed, the Miami Herald reported. Rochon then counter-sued, claiming Huizenga interfered with a deal he was making with Dell Chief Executive Officer Michael Dell's private equity firm to buy Boca Resorts.

Advertisement

Rochon claims he was forced out of the deal and sold 870,000 shares of the resort in December 2003, which Huizenga scooped up and later sold for a profit of $336 million.

A court dismissed the allegations in March, but gave Rochon 20 days to refile, the Herald reported.

Rochon's attorney Joseph Ianno said he does not dispute his client's debt to Huizenga, whose holdings include Blockbuster Entertainment, AutoNation, the Miami Dolphins and the Florida Panthers.

In a court filing, Huizenga said the insider trading charges were "impertinent" and "scandalous," the paper reported.

Topics
Wayne Huizenga

Austin visits Ukraine, voices U.S. support against Russian aggression

Defense News // 2 years ago

Austin visits Ukraine, voices U.S. support against Russian aggression

Oct. 19 (UPI) -- U.S. Defense Secretary Lloyd Austin said Ukraine continues to have U.S. support against Russian aggression and is free to decide its own foreign policy during a visit to Kyiv Tuesday.

Citing Russian occupation, U.S. signs new defense pact with Georgia

Defense News // 2 years ago

Citing Russian occupation, U.S. signs new defense pact with Georgia

Oct. 18 (UPI) -- U.S. Defense Secretary Lloyd Austin signed a new security agreement with Georgia Monday, seeking to buttress relations with the Black Sea nation as it continues to face Russian troops in two of its regions.

Pentagon orders all civilian employees to be fully vaccinated by Nov. 22

Defense News // 2 years ago

Pentagon orders all civilian employees to be fully vaccinated by Nov. 22

Oct. 4 (UPI) -- The Pentagon on Monday ordered all Department of Defense civilian employees to be fully vaccinated against COVID-19 by no later than Nov. 22.

Army investigating suspected suicides of three Fort Drum soldiers

Defense News // 2 years ago

Army investigating suspected suicides of three Fort Drum soldiers

Sept. 29 (UPI) -- The U.S. Army is investigating the suspected suicides of three soldiers based at New York's Fort Drum.

Four Marines remain hospitalized month after suicide bombing at Afghan airport

Defense News // 2 years ago

Four Marines remain hospitalized month after suicide bombing at Afghan airport

Sept. 24 (UPI) -- Four U.S. Marines remain hospitalized after an attack near Hamid Karzai International Airport in Kabul, Afghanistan, last month as service members were evacuating foreign nationals and refugees.

South Korean firm to supply rapid COVID-19 test kits to U.S. military

Defense News // 2 years ago

South Korean firm to supply rapid COVID-19 test kits to U.S. military

SEOUL, Sept. 24 (UPI) -- South Korean biopharmaceutical firm Celltrion has agreed to supply its DiaTrust rapid COVID-19 test kit to the U.S. military.

Army tests MK-22 Precision Sniper Rifle at Fort Bragg ahead of fielding

Defense News // 2 years ago

Army tests MK-22 Precision Sniper Rifle at Fort Bragg ahead of fielding

Sept. 23 (UPI) -- The Army has successfully tested the MK-22 Precision Sniper Rifle to clear it for fielding.

U.S. Navy, Bahrain partner to ramp up unmanned systems use

Defense News // 2 years ago

U.S. Navy, Bahrain partner to ramp up unmanned systems use

Sept. 23 (UPI) -- Bahraini leaders committed Thursday to partnering with a new U.S. Navy task force to ramp up new unmanned system efforts.

U.S. F-16 fighter jets intercept Cessna during U.N. General Assembly

Defense News // 2 years ago

U.S. F-16 fighter jets intercept Cessna during U.N. General Assembly

Sept. 22 (UPI) -- U.S. fighter jets escorted a small plane flown by a U.S. Army soldier out of restricted air space over New York City during the United Nations General Assembly.

U.S. Space Force to take over SATCOM operations from Army, Navy

Defense News // 2 years ago

U.S. Space Force to take over SATCOM operations from Army, Navy

Sept. 22 (UPI) -- The U.S. Space Force will take over satellite communications billets, funding and mission responsibility from the U.S. Army and Navy, the Department of Defense announced Wednesday.

Advertisement

Advertisement

Advertisement